Long time user, first time question asker! Working on a trust return that has 4 passthrough entity K-1's to enter (all of them real estate rental partnerships). What do I do with Cash Distributions from the partnership K-1's (box 19A)? There is just 1 beneficiary....does all the income in box 1 and 2 flow through to his K-1 from the Trust (less any deductions on the K-1)? Thanks in advance to anyone who can help me out here....
JoAnn M., EA
Pass thrus to pass thrus is not one of Lacerte's strengths. There is nowhere in the 1041 program to enter distributions from a K-1.
Whether the income from the K-1s flows thru on the beneficiary's K-1 depends on several things:
Type of trust, distributions made to beneficiary, whether the passthru K-1s income is income or corpus to the trust, etc.
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