this is a second year fiduciary. It is classified as an estate. Last year, there was no activity. This year, there is income and some stock losses. The interest/dividends or losses are not flowing through to the beneficiary K-1s. What am I doing wrong? I have the designation percentages correct in screen 7.
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Were distributions actually made to the beneficiaries?
N
Net income or net loss?
Mainly interest/dividend income and one beneficiary has a distribution.
Screen 7: %'s in both required and other?
If trust has net income (before income distribution deduction IDD) , and NO Sch B Override (for IDD) , Line 18 on 1041 still shows zero, you need to contact Support. Probably, there is an entry somewhere blocking the IDD and K-1 distribution. Lacerte 1041 is working properly, so far I can see..
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