2977768
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

LlFf
Level 2

How do I get TurboTax to allocate fiduciary return deductions where there is non-taxable income

I am completing a fiduciary tax return form 1041 for an irrevocable trust.  How do I get TurboTax to do the allocation of expenses between taxable and non-taxable income?  Is there a box I need to click?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

How do I get TurboTax to allocate fiduciary return deductions where there is non-taxable income

The program can allocate almost all typical expenses between taxable and non-taxable income. Simply enter the figures in the appropriate boxes.

 

Untitled.png2.png

View solution in original post

3 Replies

How do I get TurboTax to allocate fiduciary return deductions where there is non-taxable income

The program can allocate almost all typical expenses between taxable and non-taxable income. Simply enter the figures in the appropriate boxes.

 

Untitled.png2.png

LlFf
Level 2

How do I get TurboTax to allocate fiduciary return deductions where there is non-taxable income

Thank you tagteam.  That is very helpful.  Is it okay to put the state tax deduction there?  I am trying to allocate my state tax deduction.

How do I get TurboTax to allocate fiduciary return deductions where there is non-taxable income

Yes.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question