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If you received a payment from a trust, you should receive a Schedule K-1 (form 1041). You must enter this Schedule K-1 on your tax return.
You can enter your Schedule K-1 by following these steps:
I go to Wages and Income at the top and scroll down but there's is no section that says S-Corps, Partnerships, and Trusts. Please Help!
Are you trying to report a K-1 Beneficiary’s Share of Income, Deductions, Credits? If so, this form can be reported in TurboTax online version Premier or above.
In the magnifying glass in the upper right hand corner of the screen, enter 'schedule k-1'. Click on 'jump to schedule k-1'
Trusts and estates use Form 1041 to file their tax returns. In some cases, the trust pays the income tax on their earnings rather than passing it through to the beneficiaries. However, some trusts and estates pass income through to the beneficiaries.
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