Fiduciary return input

Forum|Forum|5 years ago
March 12, 2021
1 reply
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Can't fine out where to input amounts from boxes 11A and 11C from a 1041 K-1 into the return for a fiduciary return. I don't see those boxes identified in the input screen at all.

Lacerte Tax

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P

PKCPAMST

Level 6

Both items in question are excess deductions on termination.

11A: Section 67(e) expenses

11C: Short-term capital loss carryover

If the target input return is a fiduciary return, follow these steps:

In the target fiduciary return, go to Screen 43 Schedule K-1 Overrides/Miscellaneous.
In the Sections at the left bottom, select Final Year Deductions (11).
Enter the amounts in the appropriate fields.

If the target input return is an individual return, follow these steps:

In the target individual return, go to Screen 20 Passthrough K-1s.
Under Passthrough K-1s, select Estate or Trust Information.
In the Sections at the left bottom, select [Lines 9-11] – Deductions.
Enter the amounts in the appropriate fields.

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