A Qualified Disability Trust is reported as a "complex" trust as it is not required to distribute all its income.
Where is it in Turbo Tax? Could use a full answer.
Ok. I already did the work for a complex Trust. How do I tell the software it is a qualified disability filing?
The EIN of the trust classifies it as a Qualified Disability Trust. To complete the Form 1041 with TurboTax, you need to include the Trust EIN and mark it as a Complex Trust. Then enter the activities of the trust without distributions for 2022.
OK, so this goes back ten years as to what the attorney did to get the EIN? What if he wasn't so great and didn't file some form or other?
How do I know it was done right? Seems to me last year was the first time I heard about the Qualified D. Trust and I filed differently. Thanks, don't mean to be obtuse but I am tired of this unfair tax. The kid will never make a living and I don't want him eating dog food. We are not rich people.
Even Intuit takes advantage, they moved the program from Home and Business to Business. $$ Then they kick you by not having a connection to your broker, like on the much cheaper personal versions.
You can contact the IRS and ask to verify the EIN is classified correctly. A Fiduciary (Trust or Estate) return has always been part of the TurboTax Business software due to the complexity of the returns and the filing structure including Schedule K-1. If you would like to contact the IRS to verify your information, you can reference here for information.