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Returning Member

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

 
5 Replies
Level 15

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

Are you actually using TurboTax Business?

 

If so, you do not enter the deduction (IDD) itself; the program enters it for you based upon the amount you designated as having been distributed in the Distributions section of the program.

Returning Member

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

Hi Yes I am using the green package Turbotax Business for Trusts and Estates.  I filled out the distribution section for the K-1 for the one shareholder at 37% distribution.  Trust received $40,000 rental income, had $11,000 deductions and generated a K-1 for $10,715.  This is the correct distribution.  But the distribution does not show up on page one of the 1041 line 18 for income distribution deduction.I deleted the application and started over assuming I clicked something wrong but it came up the same the second time.

Thank you for responding so quickly.

 

Level 15

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

Is there a figure on Line 9 or Line 10?

Returning Member

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

Yes there is the number after deductions from total income on line 9 which is correct, but nothing on line 10

I

Level 15

Where to enter income distribution deduction from trust in TurboTax Business for 1041 line18?

Is the 1041 marked as a simple trust? Is there any figure on Line 7?

 

These anomalies are difficult to troubleshoot in this format so you might want to contact phone support.

 

What is the TurboTax phone number? (intuit.com)

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