Foxy-Lady
Level 3
04-16-2022
12:15 PM
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Every year all of the interest, dividends, capital gain and Schedule E has flowed to the K-1 Beneficiary.
This year it isn't. It is going to the Trust. Dividends amount but instead of the 1041 Allocating to the Beneficiary it going to the Trust. Capital Gains are way higher this year than last and also the Schedule E has a larger loss since a property was sold and it cost $20,000+ in repairs.
Is this correct and if so why? If not, what am I doing wrong.
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Level 15
04-16-2022
12:43 PM
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1041, Page 2, Part B, Line 9 will send all the income besides the cap gains to the K-1.
Cap gains get allocated to the beneficiaries on Sch D, Part III
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Cap gains get allocated to the beneficiaries on Sch D, Part III
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Foxy-Lady
Level 3
04-16-2022
01:04 PM
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Thanks, just could not see it.