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Retirement tax questions
When will TurboTax Business truly be for TRUST returns? For over 4 yrs this blog has been the only place to find out how to enter 1099R info into a TRUST return. We pay over $100 for the software just to be told to get the answer in a BLOG. The software does have a small note about the 1099R to enter the info in other income, but it does not tell where we get that info from. The BLOG says block 2A but most would probably enter the info from block 1 which can be a difference of over $10k in income. The 1099R has 19 different blocks, are any of the other blocks required to be entered, like Federal Income Tax withheld?
Another question that the program doesn't seem to answer is if Block 2A is correct and the info is under $600 and is the only income for the TRUST, does a return have to be filed?
Please provide complete written instructions on how to enter all info from a 1099R into a TRUST return and any other items we need to know that is not in the software.