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Complex Trust Discretionary Distribution
I am the Trustee of a Complex trust, and I made a discretionary distribution to the beneficiary in 2021 for a capital gain realized in 2020. The trust paid the capital gains tax in 2020, so the 2021 discretionary distribution should be tax free to the beneficiary. TurboTax Business is requiring designation of Income Distribution (either % or $), but because this is a complex trust, there is no such requirement. Any suggestions on how I address this in TurboTax Business?
March 2, 2022
8:04 AM