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Business & farm
I'm working on an estate return where I was unable to transfer beneficiary 1's share of stocks the same time as the other beneficiaries so dividends accumulated in the estate disproportionately. When I specified the distribution of income to beneficiary 1 that was higher than the other beneficiaries, TurboTax used that income distribution ratio to impute capital loss to each beneficiary on the K-1 which should be equally distributed among all beneficiaries. When I tried to change the capital loss value in the K-1 forms TurboTax wouldn't allow it. How can I fix this?
‎December 13, 2019
3:59 PM