Everything on in Box 1 on your 1099-INT flows through to your Form 4952 on everything on the **trust's** 1099-INT flows through to the **trust's** Form 4952 (again, investment interest expense is deducted at the entity level before any of that expense is be passed through to the beneficiary on a K-1). So, basically you just have an entity in between you and your deduction (with the entity likely taking the deduction and, in the process, reducing your share of the taxable income).
