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Get your taxes done using TurboTax
Other Income is line 8 of Form 1041. If the income is passed through to trust beneficiaries for taxation on the beneficiaries' tax returns (and a deduction is taken on the trust's tax return for this Distributable Net Income), the beneficiary's share will then be shown on the Schedule K-1 in box 5, Other Portfolio and Nonbusiness Income.
‎February 1, 2025
5:49 AM