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The K-1 section for Estates and Trusts is not working in Turbo Tax \for 2024. Info entered three times but nothing shows in the income section ?

 
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3 Replies
M-MTax
Level 12

The K-1 section for Estates and Trusts is not working in Turbo Tax \for 2024. Info entered three times but nothing shows in the income section ?

The program distributes the income (and other figures, such as deductions and credits) to the proper forms and schedules.

 

For example, interest income on the K-1 will appear on Schedule B of your 1040 (if that schedule is required).

The K-1 section for Estates and Trusts is not working in Turbo Tax \for 2024. Info entered three times but nothing shows in the income section ?

Not helpful.  My K-1 is for a personal family trust where I am only reporting Interest Income/ordinary dividends.  It does not show up on the K-1 section of the recap of income, nor does it show up anywhere in any of the income sections on my tax form.  My "income" is not correct .  This problem occurred in last year's Turbo Tax software - they did an update around  2/24/2023 and fixed it.  the same problems should not be happening again this year.

 

M-MTax
Level 12

The K-1 section for Estates and Trusts is not working in Turbo Tax \for 2024. Info entered three times but nothing shows in the income section ?

Again, the income/gain, etc. is NOT going to appear in the K-1 section of the program; it hasn't in the past and this year is no different.

 

On the other hand, if the interest and dividend income is NOT appearing in the other sections of your return, such as on Schedule B or on Lines 2b and 3b of your 1040, then that is another matter.

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