How do I enter a trust distribution payment?

posted

It depends on the trust distribution. If this is a distribution of the trust principal balances, this does not need to be reported as income because the IRS assumed this money was already taxed. If there were interest or capital gains in addition to these bank balances, then the money is taxed.

Usually if this is the case, the trust should issue a k-1 to you to report on your own individual tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"