One more follow up question...
The "Beneficiary's Allocation Smart Worksheet" section A 1 & 2.
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A Enter the beneficiary's dollar amount of:
1.) Income required to be distributed.
2.) Other amounts paid, credited, or otherwise required to be distributed (second tier).
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The response to # 1 is obvious.
The response to # 2 ...would this be total distributed less what was entered in # 1?
...or Total distributed including the amount in # 1?
Say # 1 income is entered as $ 500
Total Distribution including the income indicated in # 1 was $3000
Would # 2 be entered as $2500 or $3000?
That is in the Supporting detail form calculation I could enter $3000, then an entry for less the -$500 in income (which populates the allocation worksheet with $2500) for # 2 entry...or do I just enter the total distribution of all funds as $3000 (which populates the worksheet with $3000).
It would seem to reason the $3000 total distributed less the $ 500 in income (or just entering $2500) is the correct way to populate the worksheet...based on the term "Other"
I enter it in these various ways and see no changes to the K-1 other than what is entered for # 2 on the worksheet. Nor do the percentages change in the worksheet.
