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April54
New Member

TurboTax missing trust exemption for qualified disability trust. Exemption page not accessible from menus.

I tried creating a return for a supplemental needs trust on TurboTax business.  There were no questions about exemptions at all.  When I reviewed the return, it input a $100 exemption.  Had I not known any better, it could have been a costly mistake as the exemption is actually $5000.  TurboTax only asks if you have a simple, complex or grantor type trust.

The help line and I tried doing searching for exemptions together and found nothing.  If you dig (really dig) under "show topics", you can find a line for exemptions, and it only shows $100 for simple trusts or $300.  It doesn't mention the $5000 for a QDT.  It brings you to a box where you can override the exemption amount.  BUT - you cannot get to this page from the regular menus when creating the return.

This is a significant miss.  

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1 Reply
M-MTax
Level 12

TurboTax missing trust exemption for qualified disability trust. Exemption page not accessible from menus.

Can you not check the Qualified Disability Trust box in Forms Mode, either on the 1041 or the worksheet?

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