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Level 1
posted Feb 16, 2025 9:30:23 AM

Handling of Trust K-1

Why does TurboTax include Trust income under the heading of "Business Items" and why is the K-1 amount lumped in with 1099-INT forms, but in a way that is not traceable? That is, $0 appears under Business Items/Schedules K-1, the K-1 amount is included in Interests and Dividends/Interest on 1099-INT, but the K-1 entry does not come up on the Interest on 1099-INT update button.

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1 Best answer
Expert Alumni
Feb 16, 2025 10:53:56 AM

If you had interest income from your trust reported on Schedule K-1, that is directly reported under Interest Income on your personal tax return. Interest is not included with other income from the trust.

 

To edit this entry, return to the K-1 topic and edit the trust K-1.

1 Replies
Expert Alumni
Feb 16, 2025 10:53:56 AM

If you had interest income from your trust reported on Schedule K-1, that is directly reported under Interest Income on your personal tax return. Interest is not included with other income from the trust.

 

To edit this entry, return to the K-1 topic and edit the trust K-1.