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how to report corpus trust distributions turbotax

Have been using TurboTax Business as a trustee for an irrevocable family trust for a few years. No required distribution of interest/dividends to the beneficiaries--so trust has been reporting that income on 1041 and taxes have been paid by trust.

 

Last year trust distributed a scheduled portion of the trust's corpus to a beneficiary.  I realize that the trust's 1041 will not reflect this, nor will a K-1 be required for non-taxable corpus distribution.

 

Is there a requirement for the corpus distribution to be reported to the IRS, and if so, can this be done via TurboTax? If not, which form needs to be submitted to the IRS?

 

Thank you in advance!

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how to report corpus trust distributions turbotax

You do not need to report distributions of corpus to the IRS.

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