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Business & farm
@GAW61 if you haven't paid yet, see my reply to @sgove6 to a similar question in this TurboTax Community. (Basically I said I found a tax program, with the initials TS, that's handling the K1 box 11A deduction in accordance with the i1041sk1 instruction). In my case, I already paid for a desktop version of TaxAct so I'm not sure what I'm going to do. I can e-file by putting the 11A amount in box 10 instead (box 10 is for estate tax) and add an e-file note explaining what I did (then hope the IRS accepts it as is), or I can paper file (and would have to do that for my state taxes too) or I can pay more to e-file using TS online. I already filed four 1040 returns using TaxAct *where the 11A issue wasn't applicable) so I just about got my money's worth out of it. The problem I'd have going TS in the future is they don't make a version for Estates and Trusts yet (and I have 2 other Trusts I manage). I've used TurboTax for many years but I had an issue in 2016 so I switched to TaxAct which has had its own issues (including the one we're writing about here). I think most people would have just gone through the Q&A, clicked "eFile" and be done with their taxes. They'd never know they missed a valuable deduction.
‎June 4, 2019
10:51 PM