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Question

Where do I enter amounts for a Qualified Subchapter S trust (QSST)?

Answer

Income and deductions for the S Corporation portion of the return should be entered in the K1 1065 & 1120S folder with a type code 2 (S Corporation). These amounts are reported on the Grantor / Agency Report instead of Form 1041 and will be taxed at the individual return level. The income and deductions attributable to the complex trust portion of the return should be entered in the Income, Deductions, and Activity folders.

Related topic: 1041-US: Grantor trust / agency relationship FAQs

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