Share of Net Small Business Income Trust

Modified on: Mon, 20 Jan, 2025 at 7:52 AM

Understanding how to split of the small business income of a trust.

Note: It's normal to have an amount in 58Y (Share of net small business income) under the Beneficiary Schedule as long as the Trust is classified as a Small Business Entity.

By activating the "Small Business Entity" line item as YES under "Income>Business" tab, the 58Y will be activated for distribution to the Beneficiaries

Did you find it helpful? Yes No