I have a small California Master trust for future funeral expenses. I received a Stmt of Income, Deductions and Credits Attributed to Grantor for small ants. Where i

First of all, you would need to prepare this in Turbo Tax Business because this is a trust account and is its own separate business entity. You would not prepare this in your own individual 1040 tax return. You may purchase Turbo Tax Business here.

Once your product is fully installed and downloaded after purchase, when it asks you what type of return you wish to prepare, you will indicate Trust or Estate Return (Form 1041). Then to enter income and deductions, you will go to:

1. Federal Taxes>income
2. Interest and Dividends, is the first selection you will find, you will report your treasury income under 1099 INT interest and your dividend income under 1099 DIV dividends. Even though you may not have hard copies of these two forms, this is how you would report this income.
3. For short term capital gains, it depends.  If from a sale of stocks and bonds, you would go to investment income>stocks and bonds.  If it is on statement but no mention of stocks and bonds, it was generated from the 1099 DIV and is reported in Box 2A in your 1099 DIV entry. 
4. Your Administrative Expenses is reported in the deductions tab in the Federal Taxes section. Go to Expenses taxes and fees>Professional, Taxes, and Accounting Fees. 
5. Once you complete reporting all income and expenses, the program will generate a K1 for you to report on your own individual 1040 tax return. 

As you prepare your return, there will be questions pertaining to your Trust Account.  The most important one will ask what type of a trust account is it. Here you would state that this is a revocable trust. This is important because a revocable trust does not require a tax ID number thus you would use your own Social Security Number when it asks for a Tax ID.