Schedule J

[jgs1947]

The balance in the trust is being distributed to the beneficiary, so it is the Final Return.  Thus the distribution exceeds the trust's income for the year.  I found this on line:

Form 1041 (Schedule J) is a form that one files with the IRS to report distributions from a complex ...

How do I get Schedule J thru TT?

[Hi Palms]

Why are you looking at some whacko web site and using it for reliable federal income tax information?

You do NOT need to complete Schedule J UNLESS the trust was:

• Previously treated at any time as a foreign trust (unless an exception is provided in future regulations); or

• Created before March 1, 1984, unless that trust would not be aggregated with other trusts under the rules of section 643(f) if that section applied to the trust.

See https://www.irs.gov/instructions/i1041#en_US_2024_publink100052920

[jgs1947]

Well, I didn't come up with the reference to Schedule J on my own.  My confusion about Accumulation Distribution took me down that rabbit hole.  Now on the Interest and Dividend worksheet I have 0 of either, but it is showing 60, 75 and 100 under Box 5 which seems to lead the answer to 1 on Schedule G, Other Information, to be Yes which is incorrect.  Any suggestions?

[jgs1947]

I did look at the same link you provided and was still confused by the reference to Accumulation Distribution

[Hi Palms]

Let me simplify:

If your trust was NEVER previously treated as a foreign trust OR was NOT created before March 1, 1984, then you do NOT need to complete Schedule J.

[jgs1947]

Thank you.