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BobKamman
Level 15
June 17, 2020

Are you asking about the law, or about the capacity of the software?  

I'm not aware of any state law that limits the number of beneficiaries to a trust.  As many as there are stars in the sky, although that would be impractical to administer.  Compare it to how many K-1s can be issued by a PTP.  

Accountant-Man
Level 13
June 17, 2020

I think the most I ever had in PS was 40 or so.

** I am "Elevating with Intention!"