Fiduciary Form 1041 Grantor Letter

[TP82]

What is the best way to enter data from a Form 2041 Grantor Letter?  Info is similar to a K-1 but no line numbers.

[sjrcpa · Accepted solution]

A Grantor Trust is disregarded for tax purposes. Enter each item the same as you would if taxpayer received it directly.

[BobKamman]

They usually show items that get listed on the Schedule B worksheet for interest and dividends -- I enter them as "From John Doe Grantor Trust xx-xxxxxxx" with EIN of trust.  There may be Schedule D transactions, with any luck they are "covered" and can be shown that way from the 1099-B worksheet.  Other types of income, good luck.

[TP82]

Thanks!