This is a follow up question to one I posted earlier about distributions from a complex trust.
Here is the question:
As I put information into TurboTax business I noticed something that seems contrary to Trust Law.
I am paying the tax for the long term capital gain distribution in the Trust (as required). After the trust pays the tax I want to distribute the LTCG distribution income to myself as the beneficiary. The K1 generated by TurboTax correctly shows interest and dividend distribution with taxes to be paid on my 1040. But it does not show the LTCG distribution at all.
My understanding of Trust Law says that all distributions (taxable or non taxable) must be reported to me as the beneficiary and to the IRS on the K1.
How can I get the distribution of funds on which no tax is owed to show up on the K1?
Here is where you can find background to the question if you need it:
https://ttlc.intuit.com/community/taxes/discussion/trust-taxes-turbotax-business/01/1853283#M662218
