Handling of Trust K-1

[lgspiegel]

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.

[PatriciaV · Accepted solution]

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.