We have a Special Needs Trust which has earnings from Dividends and also has RMD income. There are no beneficiaries and therefore there should be no distributions from the Trust. However TT Business 2023 is generating a K-1. I cannot figure how to zero out the K-1 or delete it. I tried deleting it, but TT will not let me.
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In the Distributions section did you select "No" to both of the questions in the screenshot below?
I never saw those questions. All I see after clicking on Distributions all I see is "No Beneficiaries", which is correct. I fixed the problem as this is a Qualified Disability Trust and not a Simple Trust. Now TT is calculating correctly and no K-1's are being generated.
Thanks for the quick reply!
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