topic beneficiary of an irrevocable trust, where do I report trust disbursement in my my personnel tax return in Get your taxes done using TurboTax

beneficiary of an irrevocable trust, where do I report trust disbursement in my my personnel tax return

samdal — Wed, 31 Mar 2021 14:12:16 GMT

Hello,

I'm a beneficiary of an irrevocable trust and the trustee disbursed some funds in 2020. Where do I report the trust disbursement in my my personnel tax return?

Thanks,

Sam

Re: beneficiary of an irrevocable trust, where do I report trust disbursement in my my personnel ...

CatinaT1 — Wed, 31 Mar 2021 14:19:11 GMT

You should receive a K-1 from the the trustee. Did you receive this?

Re: beneficiary of an irrevocable trust, where do I report trust disbursement in my my personnel ...

samdal — Wed, 31 Mar 2021 14:21:46 GMT

No, I have not received a K-1 at this time. Once I do, how do I enter the information into Turbo Tax? Do I just fill in the K-1 section on my tax return?

Thanks, Sam

Re: beneficiary of an irrevocable trust, where do I report trust disbursement in my my personnel ...

DianeW777 — Wed, 31 Mar 2021 14:31:08 GMT

Yes. You can use the information below to enter your K-1.

Sign into your TurboTax account
Use the Search (upper right) > Type k-1 (use the dash) > Press enter > Click the Jump to... link
Select Edit beside the form you need to change (or add a form, if your K1 has an entry in both box 1 and 2 add a duplicate, one for each box)
See the image below for assistance.