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Level 2
posted Mar 18, 2024 6:48:05 AM

Qualified Disability Trust - where to report qualified purchases

There were no distributions to the beneficiary; however, qualified purchases were made on his behalf (such as medical).  Where in turbotax business 1041 do those get reported...or do they not get reported?

0 1 1918
1 Replies
Level 12
Mar 18, 2024 7:46:29 AM

You should read this GUIDE 

If there's a deduction it would have to be from income and the trust already gets a heft exemption. You should also have a tax pro to guide you in all of the matters affecting the trust.