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I have a new tax client who has a grantor trust. I was able to do his grantor trust return with no problem.
But I am unable to find where I enter the amounts that need allocated on his individual tax return. From the previous tax return, it shows a similar worksheet found in the 1041 but I am having difficulty finding it on the 1040 forms.
Can someone help me as to where I need to find this section in the 1040 individual forms?
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The same way you would enter this income if not generated from a grantor trust.
Interest and dividend income on Schedule B, capital gain transactions on Sch D/8949, etc.
The more I know the more I don’t know.
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When looking at their previous tax return, it shows the interest, dividends and capital gain amounts on a similar Amounts to allocate from a grantor trust worksheet. That is what I was looking for to apply that same information.
Thoughts?
