I received a schedule k-1 (1041 ) Final from My parents trust with the following information .
Box 14 code-i 199A information.
Rental real estate income
Non-SSTB -7,755
SSTB 0
Where do I enter this information?
Do I select I from the dropdown Code I and then enter the negative 7755 in the amount field next to the drop-down box?
Eventually the question: Does the section 199A income box 14 include business income from a business held by the trust or estate.
One can answer either:
Yes some of the income is from a business
Or
The only section of 199A income is from dividends not business income.
If I choose some of all the income is from a business
It then ask me to enter the business name and an EIN. (The notes say Generally this would be a separate EIN from the trust)
The trust does not have a separate business employee identification number.
Do I enter the trust employee identification number instead?
Another question I have,
The from list Allocation of excess deductions
Taxes under non misc. 533
Attorney, Acct Fees ..under expenses(67e) 257
Other deductions under expenses(67e) 3886
Where are these amounts entered?
