- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
this is a second year fiduciary. It is classified as an estate. Last year, there was no activity. This year, there is income and some stock losses. The interest/dividends or losses are not flowing through to the beneficiary K-1s. What am I doing wrong? I have the designation percentages correct in screen 7.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Were distributions actually made to the beneficiaries?
The more I know the more I don’t know.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
N
I come here for kudos and IRonMaN's jokes.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Net income or net loss?
I come here for kudos and IRonMaN's jokes.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Mainly interest/dividend income and one beneficiary has a distribution.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Screen 7: %'s in both required and other?
If trust has net income (before income distribution deduction IDD) , and NO Sch B Override (for IDD) , Line 18 on 1041 still shows zero, you need to contact Support. Probably, there is an entry somewhere blocking the IDD and K-1 distribution. Lacerte 1041 is working properly, so far I can see..
I come here for kudos and IRonMaN's jokes.
