Re: Why is 1065 K-1 Line 13W deduction not populating Form 8582 Line 3b (or Worksheet 3)?

davetodd11 · ‎11-05-2021

I will be taking over preparation of a trust's 1041 beginning next year. To be sure that I'm capturing all data and carryovers correctly, I'm entering the data from the 2020 source docs and filed 2020 Form 1041 into my ProSeries 2020 and comparing. The trust has one 1065 K-1, and I have $75 indicated in box 13 code W on the K-1 worksheet. In the filed 1041, this value populates line 3b of the Form 8582.

I asked the 2020 preparer (who used a different software) how she got the value to populate on the 8582. She said that on her K-1 worksheet, she indicated the investment was passive. In the ProSeries K-1 wkst, I do not see where to indicate the investment is passive (no box 2 or 3 data on the K-1).

How can I get the K-1 13W data to pull into the Form 8582?

Just-Lisa-Now- · ‎11-05-2021

Is Code W one of the ones that you need to use that additional QuickZoom button below the line on the K-1 worksheet to add more info?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

davetodd11 · ‎11-05-2021

Yes, but even with the data there, I get the same results.

Terry53029 · ‎11-05-2021

In ProSeries when ever there is a single * (asterisk) that means the program will not put that line anywhere, and you have to manually enter it where you need it to go.

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davetodd11 · ‎11-05-2021

Ugh! Can't believe I missed that! I've seen that on the actual K-1 worksheet, so that is the only place I look for it. I did try to override the amount on the 8582 Worksheet 3, but curiously, when I clicked 'Override' in the cell for the K-1, it inserts a new row above the K-1 data. Consequently, Worksheet 3 doesn't properly reflect that the manually entered amount is associated with the K-1. However, it does populate 3a on the 8582, so I guess I can live with this one. Thanks!