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Schedule D, Line 12 should show same amount as Schedule K-1 (Form 1041), Box 4a. It does not. Should I put a wrong number in TT K-1 interview to make the return correct?

If I enter 11272 (the correct amount) in Schedule K-1 (1041) Box 4a, then Schedule D, Line 12 shows 5900 instead of 11272. If I enter 16644 in Schedule K-1 (1041) Box 4a, then Schedule D, Line 12 is 11272
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2 Replies

Schedule D, Line 12 should show same amount as Schedule K-1 (Form 1041), Box 4a. It does not. Should I put a wrong number in TT K-1 interview to make the return correct?

Line 12 aggregates long term gains or losses from multiple places.  Here's the description:  "The program will enter on line 5 the net long-term gain or loss from all Schedule K-1 Worksheets from partnerships, S corporations, and/or estates and trusts. The program will also include any long-term capital loss carryover from any Schedule K-1 Worksheet for the final year of an estate or trust."

 

Given your examples, it looks like you have a loss of -$5,372 coming from elsewhere on your return.

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Schedule D, Line 12 should show same amount as Schedule K-1 (Form 1041), Box 4a. It does not. Should I put a wrong number in TT K-1 interview to make the return correct?

Thanks so much for your prompt reply!

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