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Withdrawals from GST
My father set up a Generation Skipping Trust, which is a broker account, and has a Trust (EIN) number. I take a small amount out of this trust to establish / fund a 529 Education Fund for my grandchildren each year, which I am allowed to do. I do not get a K-1 from the broker, and do not know how to report this in TurboTax. I have reported this as "Other Income" in the past, but it does not track back to the Trust, so I get letters from the IRS. How do I report this correctly?
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‎April 5, 2021
1:42 PM