1. No, that doesn't change anything.
2. @DaveF1006 did mean 1041.
3. Correct
4. No, there are no special entries. The grantor statement already notified the IRS that this income would be on your 1040.
5. Form 8960 may come into play depending on whether your income levels trigger it. If so then TurboTax will generate the form automatically.
@carriskoul
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