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April 10, 2024
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How do I add a Trust account as a source of income? The program only allows my wife and myself as income sources.

  • April 10, 2024
  • 1 reply
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Best answer by VolvoGirl

Did you get a K-1 from the Trust return?    If you are using the Online version you need to use Premium to enter a K-1.

 

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Scroll down to S-corps, Partnerships, and Trusts or to Business items

Schedules K-1, Q - Click the Start or Update button

 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

Enter each k-1 separately.

1 reply

VolvoGirl
VolvoGirlAnswer
Employee
April 10, 2024

Did you get a K-1 from the Trust return?    If you are using the Online version you need to use Premium to enter a K-1.

 

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Scroll down to S-corps, Partnerships, and Trusts or to Business items

Schedules K-1, Q - Click the Start or Update button

 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

Enter each k-1 separately.