I have a similar question. In this case, the Royalty Income is in a Trust. I am using TurboTax business to prepare the Trust return and K-1’s for the beneficiaries. I assume that I can deduct the owner deductions noted in the notes to the 1099 but cannot identify where to enter these deductions. The software shows a place to enter expenses such as legal, tax and insurance but does not offer a category for typical owner deductions. Where should I enter these owner deductions?
