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rckcpa
Level 3
April 9, 2020
Solved

Form 1041 Beneficiary List Error - Doesn't total 100% - Using direct entry method

When using direct method, no percentages show up on List of Beneficiaries, so get error message that "beneficiaries' percentages do not equal 100%". Will 1041 e-file with this error? If not, how fix?

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rckcpaAnswer
Level 3
April 21, 2020

Answer is to enter percentages on K-1's, then override amounts on K-1's.

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5 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 9, 2020

cant you make them equal 100?  someone may need a fractional percentage more or less than the others to equal 100%

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    rckcpaAuthor
    Level 3
    April 9, 2020

    No percentages populate when using the direct method.

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    April 10, 2020

    someone must be off by a dollar or something somewhere, no?

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    rckcpaAuthorAnswer
    Level 3
    April 21, 2020

    Answer is to enter percentages on K-1's, then override amounts on K-1's.

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