Entering Schedule K-1 distributions from box 19, code A in Lacerte

This article will help you enter a Schedule K-1 distribution for box 19, A on a partnership or fiduciary return in Lacerte.

How to manually track K-1 distributions

There's no specific input for K-1 distributions in the partnership and fiduciary modules.

Lacerte also doesn't can't track basis or at-risk limitations of Passthrough K-1s in the fiduciary module.

So, the basis—including Line 19, Distributions—should be tracked manually on Screen 51, Notes.

Basis Limitation worksheet:

Adjusted basis at beginning of year

• Plus additional amounts invested in current year
• Less current year distributions of money/property
• Plus/Minus change in partner's share of liabilities
• Plus/Minus current year income from partnership
• Equals adjusted basis used for basis limitation
• Minus the loss allowed by basis limitation
• Equals basis at end of year

Optional input for entering passthrough K-1 distributions

To be reported and taxed on the partnership/fiduciary level:

1. Go to Screen 25, Passthrough K-1's.
2. Scroll to Other Income and Deductions - Passive (11F) (13W), or Other Income and Deductions - Nonpassive (11F) (13W).
3. Under the Federal column, enter the amount of distributions in the Other (Ctrl+E) field.

To be reported and taxed on the individual level:

1. Go to Screen 46, Schedule K-1 / Grantor Other Info.
2. Enter the amount in total in the All Bene / Gtr input, or enter a specific amount allocated to each beneficiary by selecting each beneficiary listed.