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April 22, 2025
Question

Grantor Trust 1041

  • April 22, 2025
  • 1 reply
  • 0 views

I have a question and I am a bit confused.  I have a Grantor Trust and I am not how to enter Dividends and Proceeds.  I have located the sections to enter in Turbo Tax Business. But as I run the review, it states, no numbers get entered into a grantor trust???  Am I selected the correct type?  The client is telling me it's a Grantor trust, she is the Grantor and it has investments producing dividends and proceeds (1099-DIV & 1099-B)

How should I be handing this? 

1 reply

Hi Palms
April 22, 2025

Grantor trusts virtually always have 1041s that show blanks or zeros. Everything gets passed through to the grantor on the grantor information statement which TT Business should generate for you (I believe).