Reporting for electing small business trusts

ESBT whitepaper attachments report activity from Electing Small Business Trusts in the child locator. Official IRS forms for ESBT purposes must be printed from the ESBT child locator directly. The parent locator only reports amounts for regular trust (Non-ESBT) activities, i.e. Forms 1041, 4562, 3800, 8582, 8903.
ESBT income and deduction items, taxable income, and tax due amount are reported on the ESBT Calculation screen. Select
Tax Forms
, then
ESBT Calculation
in the parent locator only. The ESBT Worksheet for print purposes is also only available in the parent return.
Schedule G, line 4 reports the ESBT tax liability.
You can review and print detail whitepapers for ESBT-only activities from the child locator directly. All whitepaper in the parent locator will only report the non-ESBT activity amounts.
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