CovingtonCPA
Level 2

According to the 2020 IRS Publication 529 (Miscellaneous Deductions - page 9), you can deduct Excess Deductions (including administrative expenses) allowed a beneficiary on termination of an estate or trust.

It doesn't look like this deductibility happens, however, in my ProSeries Basic software.  I have entered excess deductions with codes A, B, C, and D on the Schedule K-1 worksheet (estate & trust).  The item coded B goes to the Schedule A Line 16 worksheet and appears on a line that says "Deductions related to portfolio income, misc. deductions, & excess deductions on termination from Schedule(s) K-1."  But the amount isn't going to Line 16 on the Schedule A, which I would expect based upon the Publication 529 that I cited above.

Am I missing some additional coding that is needed?  Or is this something that the ProSeries Basic software doesn't handle?  I would appreciate some direction about how to resolve this matter since it will change the result for the client's itemized deduction total.

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