Using TT Bus. This is simple trust which should distrib divs/int to the benefic. TT assumes it's a complex trust. Does TT calc just the simple div/int distrib amt?

Yes, a simple trust follows three rules:

 

• All the income must be distributed to the beneficiaries yearly.
• The trust  mustn't payout any of its corpus (better known as principal), and 
• The trust can't  make charitable contributions.

If you believe that your trust is a simple trust, you can make that change in TurboTax Business. Here's how to do that:

 

 

1. Open your software and your return.
2. Select the General Info tab, then About your Trust or Estate.
3. Select Edit to the right of the trust's name. 
4. You can change the type of trust on this page. 

 

 

OK. Thanks. It makes sens. I wish Turbotax Business did a better job for us Trust managers and provided more guidance.