After entering K-1 information into the software for the Trust 1041 it populates line 12 of the K-1 with codes A and J. Have any of you ever seen those codes generated with TurboTax? Why are they generated when the AMT is 0 from Form I (Alternate Minimum Tax for Estates and Trusts)? When I enter the K-1 information into the 1040 FreeTaxUSA software it ignores the 2 Line 12 A and J codes and seems to only use what is in Line 5 on the K-1 with no errors generated. FreeTaxUSA.com is one of the IRS’s recommended free tax software partners. I used it last year to file my 1040 and it worked great.
2024 Schedule K-1 (Form 1041)
Line 12 - Alternative Minimum Tax Items
Code A - Adjustment for minimum tax purposes:
$1,377
Code J- Exclusion items:
$1,377
