Business & farm

Thank You.

You are correct - the amounts shown in Part III of the K1s for the previous estate return  are 1/3 of the income.  So they are correct.

The amount shown in the smart worksheet A-1 "Income required to be distributed" is incorrect and is the entire distribution amount.  I guess that is not used anywhere so I should not bother amending the K1 forms? 

I have now entered it correctly on the current 1041 I am working on.

I do think TT should change their question in the step by step to say 'How much income was distributed' instead of simply 'How much was distributed'. 

Thank You for your help