My Mother passed away on June 6, 2024. She had a deferred non-qualified annuity which was paid in a lump sum to her trust with her Trust's EIN#. I received a 1099-R which shows the gross distribution amount, taxable distribution amount, federal tax withheld and state tax withheld. I don't see how I report this in Turbo Tax or on the trust tax return (Form 1041). Do I enter the taxable amount as Other Income? Where do I enter the federal and state withholding. The distribution should be reported on K-1s for my sister and I (50% each).
