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Returning Member
posted Mar 21, 2020 1:06:38 PM

1041 Schedule K-1

I have an early IRA distribution that I need to put on a 1041 K-1 as a part of an trust return.  What block and what code would be used for it?  I've read the instructions and nothing is clear.

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1 Best answer
Level 15
Mar 21, 2020 1:35:48 PM

Follow the steps below to enter the amount on Form 1099-R (Box 2a) that is treated as ordinary income:

1) Click the Federal Taxes tab and then click "Income".

2) Click the Start (or Update) button to the right of "Other income or loss".

3) On the Other Income page, enter "Ordinary income from 1099-R Box 2a" as the description.

4) Enter the amount treated as ordinary income in Box 2a under "Amount" and click the Continue button.

5) Go into Forms mode (upper right side of screen). 

6) Under "Forms in My Return" (upper left side of screen), look for "Form 1041" and click that form.

7) On Form 1041, ensure that the Box 2a amount you entered previously appears on Line 8, Other income.

1 Replies
Level 15
Mar 21, 2020 1:35:48 PM

Follow the steps below to enter the amount on Form 1099-R (Box 2a) that is treated as ordinary income:

1) Click the Federal Taxes tab and then click "Income".

2) Click the Start (or Update) button to the right of "Other income or loss".

3) On the Other Income page, enter "Ordinary income from 1099-R Box 2a" as the description.

4) Enter the amount treated as ordinary income in Box 2a under "Amount" and click the Continue button.

5) Go into Forms mode (upper right side of screen). 

6) Under "Forms in My Return" (upper left side of screen), look for "Form 1041" and click that form.

7) On Form 1041, ensure that the Box 2a amount you entered previously appears on Line 8, Other income.