2020 Form 1041
$6598 Dividends ends up on Beneficiary line then a k-1 is generated:
In 2021 the $8095 Qualified dividends
End up in Estate/Trust line and does not carry to K-1?
Any distributions?
Both are Trusts with living beneficiaries. One beneficiary per Trust.
Both are Complex Trusts.
Both have overall gains & distributions that should be passed along to Beneficiaries on K-1.
It depends on the terms of the Trusts. They are Complex Trusts, so what do the terms say?
Distribute all income?
Distribute all gains or some gains?
Distribute for all needs, including Health and Welfare?
I still have to wonder if I'm missing something that changed in the 2021 software. I have 2 Trust clients, completely unrelated and having the same issue on both.
Dividends & Cap Gains were reflected on 2019 K-1:
In 2020 the dividends are present on K-1 but there was a net capital loss, so loss not reflected:
In 2021 I can’t get the distributable amount to the K-1 because the “100% is showing on estate” and it should be on Beneficiary, how do I change in ProSeries?
Any thoughts anyone or should I call support?
Liz
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