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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.
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- Overide Form 1041 QBI reporting on K-1
Overide Form 1041 QBI reporting on K-1
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Chuckles
Level 1
08-23-2022
12:51 PM
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I have a 1041 for an Estate where one beneficiary should have all rental income allocated to it. I have set up overrides on input screen 43 that provides the correct allocation on the K-1 but I can't kill the QBI reporting on K-1 Stmt A that is allocating the QBI income to the other beneficiaries. I see percentage overrides options for QBI on screen 45 but entering "0" or "0.00" for the other beneficiaries doesn't work. There are 2 rental properties and screen 43 only provides for an override for one property. Any ideas for a work around?
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