Irrevocable Grantor Trust Tax Return. Where to enter interest and dividend info

[regorsss]

Where to enter interest and dividend info

[Anonymous_]

If you received a grantor letter (aka, grantor information statement), you can either enter the information as if you had received a K-1 or enter the information as if you received a 1099-INT and 1099-DIV.

[Irene2805]

To enter interest and dividend in a Grantor Trust return, please follow these steps:

1. While in the return, click General Info > Grantor Information.
2. Continue through the screens until you come to Amounts to Allocate to Grantors Worksheet.  Click Continue.
3. On the Amounts to Allocate screen, mark the boxes for the items you need to allocate to each Grantor (income, deductions, credits, etc.)
4. On the Grantor Income Type and Amount screen, enter the type of income (e.g. interest) and amount and click Continue.
5. On the next screen, the income you entered will show in the table.  Click Add Another Income Item and add that income (like dividends).
6. Continue through the screens, entering the information.

[Anonymous_]

Note that @Irene2805's instructions are applicable to TurboTax Business with respect to preparing a Form 1041 for a grantor trust and that @regorsss posted with a profile indicating the product being used is Home & Business.