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Paul921921
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Unable to use percentages when entering distributions to beneficiaries form 1041

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?

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1 Reply

Unable to use percentages when entering distributions to beneficiaries form 1041


@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.

 

 

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