Hello community! My dad has a trust. It has a bank account that made interest. He received a K1 from the trust from these earnings.
On Turbotax for his Schedule K-1 it asks:
Box 1 - Interest
Box 2a - Total Ordinary Dividends
Box 2b - Qualified Dividends
QUESTION: Which box do I put his K-1 amount in?
Here is why I am confused. The trust can make money in different ways I assume. Just because the whole income of the trust was from a bank account intest, does that mean it goes under interest income on my dad's K-1?
Thank you
