Grantor Trust

[Stacy333]

I have turbotax home and business as I need it for a rental property and my llc.  I am trying to file my mom's taxes and am the fiduciary for a grantor trust.   I don't want to purchase the business turbotax to create the 1041 so I read the IRS 1041 directions and I think I can mail that in.  It says that for a grantor trust with one beneficiary you don't create schedule K you just create an attachment.  So I did that and am attaching screen shots of the 1099's that the trust received.  So, I think I am ready to file that, BUT, I am having trouble figuring out how to reflect this income on my mom's 1040.

Easiest for me would be to just upload the 1099's as if they were her own instead of flowing through the trust.  Is that ok?    If I try to enter it under the income from a trust it wants stuff from schedule K (that the instructions said not to create!)

[tagteam]

You can go either way on this since it's a grantor trust.

Some taxpayers (and TurboTax users) enter information from the GIS as if they received a K-1 (it all ends up in the right place on the forms and schedules and the K-1 record created in TurboTax doesn't get sent to the IRS anyway).

Otherwise, you could import the statements (1099s) directly into your mom's return provided the information from the 1041 (and grantor information statement) lines up with those statements.