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Business & farm
I have a similar question. So I checked Grantor trust so that income is reported on Grantor's tax return. A K1 breaks down the income types but since you are saying you enter "the amounts" on the grantor worksheet, which amounts do you use, all the detail or can the grantor just report the taxable income? Seems like the grantor would need K1 level detail and why wouldn't this program populate this data? If all the income goes to the Grantor, how to you -0- out the income for the trust?
‎April 4, 2020
1:54 PM