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Bikingcpa
Level 2
September 25, 2020
Question

Form 1041 - Mid year Successor beneficiaries - How to allocate K-1s

  • September 25, 2020
  • 2 replies
  • 29 views

I have a taxpayer who was the sole beneficiary of a family trust that died during the year. Her interest was then allocated to three successor beneficiaries. How do I get the K-1s to reflect that properly?

This topic has been closed for replies.

2 replies

sjrcpa
sjrcpa
Level 15
September 25, 2020

Calculate manually and then override in the software.

The more I know the more I don’t know.
    BikingcpaAuthor
    Level 2
    September 25, 2020

    Thank you. Although I was optimistic that the software was robust enough to handle it,  I was afraid that might be the answer since I couldn't find any input areas that could address it.. I appreciate your quick response.

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