- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
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?
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
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.