F1041, Line 11A on K-1 Worksheet

[jgcpa]

Form 1041, k-1 Worksheet, line 11A is (5000). Yet the loss is not flowing to line 11A of the beneficiary k-1 as excess deductions. Any thoughts as to why not?

[Just-Lisa-Now-]

Is the K-1 marked as final?   If so, it should flow to Sch A Misc Itemized Deductions, which IRS took away back in 2018, you state may still allow for those deductions though.

You may want to read through the information here and see if it qualifies as IRC section 67(e) expenses and can be used as a deduction on Sch 1.

https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/re-excess-deductions-1...

[jgcpa]

Thank you for your reply. I went back and entered the % to each bene's distribution and then Line 11A populated.  I had the $ amount distributed to each and the total before. Maybe the $ to each did not equal 100% ? I will investigate that tonight. But for now, all is ok when I entered the 60-20-20 and the total $ amount distributed.

[Just-Lisa-Now-]

Ah, sorry, I misread, I thought you were referring to entering the K1 on the 1040....glad you figured out your issue though!