@htccfo09 wrote:
So questions on turbo tax is - it shows the 11k of income and seems to pass on to individual K-1's.
However, the total amount distributed from the trust assets (not generated income) was higher and don't see where that can go in the TT interview area or if I need to enter that somewhere where beneficiaries get a K-1 that actually match the distribution they received .....
Simply enter that amount as the distribution to the beneficiaries.
Typically, the entire amount distributed will appear on your 1041 (Schedule B, Line 10) but only the actual income or gain will be passed through to the beneficiaries on their K-1s.
In short, corpus (principal of the trust) that is distributed to the beneficiaries but that is not otherwise taxable will not appear on the K-1s.
