How do I include an informational statement?

Forum|Forum|1 year ago
February 26, 2025
1 reply
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I included a statement last year pertaining to terms of the Trust Instrument which does not require Trustee to make distributions from either income or principal. I cannot find any function in this year's software to indicate that.
For that matter, there appears to be no way to share detail of deduction expenses -- just a total amount.

TurboTax Business Windows

JotikaT2

It sounds like you have a complex trust. Essentially, a complex trust is allowed to accumulate income.

Please see this link from the IRS for more details on the types of trusts available.

In TurboTax Business, you will need to make sure you have selected Complex trust under the section titled Other Return Info under the Other tab.

Then, you will be asked to confirm whether any income was distributed in the Distributions tab in the Federal taxes interview screens. Answer each item as applicable to your trust terms.