Grantor trusts are weird but they don't always send you the K1 with parts 1 and 2 completed so that is good for you. Yes, you're going to enter the income from the letter into part three of the K1. The TurboTax system will provide you with boxes for all the different types of income and you will enter it into the corresponding boxes after you enter the information from parts 1 and 2.
In the income section of your federal return scroll down to "Business Items" and click start next to "Schedules K-1,Q" and then follow the steps.
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