Intuit HelpIntuitAllocating specific items to a beneficiary or trust in ProConnect Tax
by Intuit•2• Updated 2 years ago
The program handles the dividing of items between beneficiary and fiduciary at the totals level. If the beneficiary percentages total less than 100%, then the remainder of the items will stay at the fiduciary level and the fiduciary will receive parts of everything. You can override amounts on the beneficiary's Schedule K-1, but the difference won't remain at the fiduciary level.
Follow these steps to override amounts on a specific beneficiary's Schedule K-1:
- Go to Sch. K-1.
- Select Schedule K-1 Overrides/Misc. and choose Federal.
- Select the beneficiary using the tabs at the top of the screen..
- Complete any applicable fields with the amounts you wish to override.
- Repeat steps 2 and 3 for each beneficiary.
- If you want to change the amounts for the state level, select the specific state from the top left navigation panel, and then repeat steps 2 and 3.
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