Personally, I, and most of the other volunteer folks (so-called "Champs") make use of the Desktop product, even in the Personal filing, because we can go directly to the Forms, see the entries made and calculated and make further entries such as you mention, namely entering in Depreciation previous accumulated, adding in the prior-year carry-over losses or credits, et elii. Entering in amounts from 1099-INT 1099-DIV is simple Nowadays, brokerage statements generally provide you all you need for basis, realized gains or losses, and for bonds - the amount annually of premium or discount that may effect reported amounts.
When you have entered in all income, allowable expenses including Trustee fees, and amounts distributed to beneficiaries, the only thing to watch for is being careful in completing Form 1041 Schedule B (2nd page) relative to apportioning the distributions if your IRT is a "Complex Trust" allowing distributions that may include principal. A "Simple Trust" must distribute all ordinary income to beneficiaries in order to avoid trust taxation, although of course the trust does have some minimal line 21 Exemption.
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67
NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3
- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.
