The trust has a small amount of interest income and expenses for prior year tax preparation and trustee fees. Net of those is the NOL. So, when TT asks if I have any distributions, I should just select "No" and not enter the beneficiaries receiving the specific principle distributions? Just file the 1041 with no K1s? Do the beneficiaries need to be concerned they don't have a K1 to explain their receiving the distribution?
