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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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1041 Initial & fina return
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gamacpa
Level 3
03-07-2022
07:55 PM
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Where do I input charitable deductions so that beneficiaries can take deduction on k1 ?
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sjrcpa
Level 15
03-07-2022
08:02 PM
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Probably nowhere.
See 1041 page 2 Schedule A and instructions for the limited circumstances where the trust or estate can take a charitable contribution deduction.
I don't think charitable contributions can flow out on a K-1. Note there is no K-1 Code for this.
The more I know, the more I don't know.
