Turbo Tax Trust First Year Dates

[TSmith5]

Hello, I've purchased TurboTax Business & Trust 2020. This is the first year of the Trust filing.

The Trust is revocable.

The Trustee was incapacitated as of last year. I’m now the acting Attorney. There is a significant years gap between the creation of the Trust and when it’s first tax preparation. I’m unclear on when the end date occurs.

Also I’m keep getting this “Check This Entry” Error:

Fiduciary Information Worksheet: Short year beginning date is not between the prescribed upper and lower limits.

Short year beginning date: XX/XX/1997

                               End date: XX/XX/1997

It’s now 2021 and last year which I’m filling for is 2020.

As far as I know this should be a calendar filing?

What should I do?

Thanks!

[M-MTax]

The Trust is revocable.

Then you probably don't have to file a 1041 at all because grantor trusts are disregarded for income tax purposes. Unless there's something unusual going on you can file income and gain for the trust on the grantor's tax return.

[TSmith5]

Thanks, however the tax software is paid and most of it is filled out. I might as well file this year just in case.

Can someone please help me with the audit error?

For first filling year, what do you put in?

Regards

[M-MTax · Accepted solution]

OK. Put in the date the trustee became incapacitated for the beginning and put in 12/31/20 for the ending date.