Used TT to create a return for an estate. The only "income" was a capital gains loss on the sale of the home during probate. However, none of the loss or personal tax carryover was transferred to the K-1 forms. I already reported a bug in TT, where the interview did not ask for the percentages to be distributed to each beneficiary, and those had to be entered manually on the worksheet. It seems there is a further problem.
The Form View of the K-1 shows final year deductions: A: 31 B: 682 C: 832 with the note "Box 11B: non-miscellaneous itemized deductions detail" as Real and personal property taxes 682.
The "K-1 Worksheet" shows A: Excess deductions 155, B: Excess deductions non-miscellaneous itemized deductions 3414 and C: Long-term capital loss carryover 4160.
The generated K-1 forms for distribution do not have any values in any fields, however. Can someone please explain this? Why are no values being carried to the K-1 form? And since they are displayed on the Worksheet, there is no way to manually input them to get them to appear on the individual K-1s. Some of my family are already trying to do their taxes and this is holding everything up.
There are NO interview screens in TT Business for any K-1 details, other than asking for a list of beneficiary names and addresses. There are NO interviews asking anything about disbursement to beneficiaries. I would very much appreciate any help with this so I can finish the job.
