I'm using 2019 TurboTax business to file a return for my Uncle's estate/trust.
When I get to step: Federal Taxes: Distributions, all the beneficiaries are listed with a entry box to the right saying, "Enter the amount distributed to each beneficary in 2019. I can't enter a percentage. After entering a dollar amount, when I look at the schedule K-1 forms for each beneficiary, I see no allocation to line 11 A, 11C. If I enter a percentage instead of the dollar amount (Beneficiary's allocation smart worksheet, B1, B2) then the allocations for to line 11. Should I enter this into the form manually or is there a way in the step-by-step to enter the percentage?
@Paul921921 wrote:
Should I enter this into the form manually or is there a way in the step-by-step to enter the percentage?
You can enter that in Forms Mode (as you have discovered). I believe the TurboTax default for estate returns is to enter actual amounts distributed. If those amounts result in the same distribution as your percentages, then you can use the latter.