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fiduciary overpayment applied
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cynginger
Level 1
03-17-2021
12:21 PM
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Is there a way to allocate the 2019 tax overpayment to a beneficiary within Lacerte?
when I use Screen 12 for estimated payments, these amounts increase the overpayment on Schedule G, in error.
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IntuitTylor
Intuit Alumni
03-17-2021
02:14 PM
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Lacerte cannot distribute the refund amount to the K-1s automatically based on the distributions so you will need to go to screen 43, Schedule K-1 Overrides, and enter those distributions manually on each beneficiarys K-1. The field you are looking for is in the section labeled Credits and Credit Recapture and is labeled Trust Payments Of Estimated Taxes.
