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Get your taxes done using TurboTax
During the interview, TT asks if all of the trust's income was distributed. Do I answer yes even though tax was withheld as shown in box 4 of the 1099-R that cannot be distributed to the beneficiaries until the trust receives its refund. TT doesn't take into consideration withholding until later in the interview.
If I try to make an adjustment to the amount paid to the beneficiaries or make any adjustments to the amount of taxable income, the overpayment amount (refund) due to the trust decreases below the amount that I believe is correct.
March 1, 2023
3:19 AM