I am preparing a Form 1041 for a grantor trust in ProSeries Professional. There are two rental properties in the trust, so I need to prepare something like a Schedule E, so I can compute the income from the properties. I also need to compute the depreciation for each property. The problem is, if I use the Schedule E and depreciation worksheets, the income flows to the page 1 of the Form 1041, which is incorrect for a grantor trust. The income should be reported on the Grantor Information Statement; all the amounts on the Form 1041 should be zero for a grantor trust.
Is there anyway around this? Is there anyway I can use the Schedule E and Depreciation Worksheet without having the amounts flow to the Form 1041? Or, am I going to have to start a separate ProSeries file for the rental properties and then just enter the calculated amounts manually on the Grantor Information Statement?
Many thanks for any insights.