Where and how do I enter Schedule K-1, Box 11, Code B

[DeniseParker]

Adjusted Total Income from 1041, Line 17 = $0

Allowable Excess Deductions on Termination = ($8,412)

Less:  Portion Attributable to Section 64(e) Expenses = $3,950

Allowable Excess Deductions - Code B = ($4,462)

Beneficiary's Portion = $744

[abctax55]

Difficult to answer without knowing what software you are using:

Lacerte?

ProSeries?

PTO?

[DeniseParker]

Turbo Tax - Very simple return with only 2 W-2's   No other deductions; taking standard deduction.

[abctax55]

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

[IRonMaN]

"You’ve come to an Intuit site supporting tax professionals"

At least that's what Intuit tells us 😜

[abctax55]

LOL, Jeff.  

Maybe I'll update that wording the next time I use the Macro.