How do I report income/expense from a grantor trust? Taxpayer received letter (not a K-1) from the trust's CPA listing items to be reported on taxpayer's return.
How do I report income/expense from a grantor trust? Taxpayer received letter (not a K-1) from the trust's CPA listing items to be reported on taxpayer's return.
IRS Pubs & regs speak to this subject but just use vague language concerning the fact that the taxpayer must include those items on his/her return.
My question is as a Pro Connect user how do I get the items into the taxpayer's return using the input screens. I don't see input screens for grantor trusts unless I have missed them.
Just enter them as if there were no trust. Interest and dividend income on Schedule B, stock sales on ScD/8949, etc.
The more I know, the more I don't know.
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