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Distributing Form 3800 credits to the beneficiaries of a 1041 return in Lacerte

by Intuit Updated 11 months ago

This article will help to understand why credits on Form 3800 are not passing to the beneficiary Schedule K-1's.

Some credits from Form 3800 in the fiduciary module pass to the beneficiary Schedule K-1's, box 13, and others are applied against the fiduciary tax liability calculated on Form 1041, Page 2, Schedule G.

The Schedule K-1 codes page, or page 2, shows a list of codes for Box 13 Credits and Credit Recapture. These appear on the Schedule K-1 when not associated with Form 3800.

Any credit reported on the Form 3800 will be used to offset the fiduciary tax, if any, on Form 1041, Page 2.  If there's no tax liability on the Form 1041, the Form 3800 won't generate.

  • The input for Form 3800 is in Screen 38, Other Credits and Withholding.
  • The input to put credits directly on the Schedule K-1 is in Screen 43, Schedule K-1 Overrides/Miscellaneous.
Lacerte Tax

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