Here's my situation. My father passed away and had listed his trust as the beneficiary on his IRA. The ira paid out the balance to his trust and they withheld taxes for state and federal. They reported this info on a 1099R. I prepared the trust return with turbo tax. I indicated on the K-1 the net amount after taxes were withheld from the IRA to the beneficiary. Is this net amount still considered income on her personal tax return? Asking in business and farm section since the return is prepared in turbo tax business.
