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Business & farm
Thank again, I'll see what I can find out.
Also, as another alternative, maybe I'll file both federal and SC state with all its income taxed to the trust (Yeah, I figure the total tax due is likely to be a bit higher than if I pass it through, but then no add'l tax filing burden to benefs.)
But when I try to do this in TTBus, it won't let me count the corpus amounts distributed during the year. When I include it as Tier 2 or on the form directly, it immediately re-computes (which is kind of cool!) and pushes the NDI amounts out to the K-1s, etc. Even though we distributed some corpus, should I just leave it out of TT (and therefore 1041 Sched B line 10, etc) since it's not taxable? Can't figure another way to make the trust have complete responsibility for taxable income and still "admit" to making some discretionary distributions.