If they are both beneficiaries of trusts, they should each receive a Schedule K-1 from the trusts reporting their share of the trust's income (capital gains distributions, dividends, interest, etc.). They must report these K-1s on their own tax returns.
Report these K-1s in the Schedule K-1 interview of Business Investment and Estate/Trust Income under Personal Income/Wages and Income must report them on their own tax returns.
They can use the online version of TurboTax Premier; each one will have to establish their own account. If you choose to use a desktop version of TurboTax Premier, you can prepare as many returns as you like (but only e-file up to 5).
