When entering a k-1 why does turbo tax ask if it is an estate or a trust? I received a k-1 from a trust as part of an estate.

[AnnetteB]

The K-1 that is created from either an estate tax return or a trust tax return is still the same format.  It is a K-1 for Form 1041. 

It does not matter whether it comes from an estate or whether it comes from a trust, only that it comes from either one of those choices.  Otherwise, you would need to select a different type of K-1 for your entries. 

[Raider-Mark]

Thank you for your reply.

This community system won't allow me to paste a screen shot, but the question in TurboTax for California is:

Is this an Estate or Trust?
Indicate bellow whether this K-1 is for an estate or trust

I then am requested to make a choice
This is an Estate
This is a Trust

I am not sure what the difference is and the impact of my reply.  The K-1 is from a Trust as part of an Estate settlement.

Thank you.

[AnnetteB]

OK.  I did not understand that it was a state related question.  It sounds like you are actually receiving funds from a trust.