Solved: In Turbotax Business 2018 for a trust which path do I take if I do not wish to allocate income to the beneficiary?
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thewachs
New Member

In Turbotax Business 2018 for a trust which path do I take if I do not wish to allocate income to the beneficiary?

I do not wish to generate K-1s.  Which path do I take in Turbotax business?

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tagteam
Level 15

In Turbotax Business 2018 for a trust which path do I take if I do not wish to allocate income to the beneficiary?

"I do not wish to generate K-1s.  Which path do I take in Turbotax business?"

Click the FEDERAL TAXES tab and then click Distributions. Check the appropriate circles as per the screenshot below.

Note that if you have indicated the trust is a Simple trust, income will be automatically allocated by the program and an income distribution deduction will appear on your 1041. 

View solution in original post

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tagteam
Level 15

In Turbotax Business 2018 for a trust which path do I take if I do not wish to allocate income to the beneficiary?

"I do not wish to generate K-1s.  Which path do I take in Turbotax business?"

Click the FEDERAL TAXES tab and then click Distributions. Check the appropriate circles as per the screenshot below.

Note that if you have indicated the trust is a Simple trust, income will be automatically allocated by the program and an income distribution deduction will appear on your 1041. 

View solution in original post

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