Business & farm

Ok, I was able to see the K-1's in forms view.  I still can't print them as above.  That is some kind of bug that needs to be fixed. 

 

But I was able to hack this dumb program by print previewing each form and then saving it.  This gave me a copy although it doesn't look the same as a regular IRS form but looks more like a worksheet.  But whatever.  I have the copies I need to send to the beneficiaries so no need to keep beating this sorry horse.

 

Other related questions before I e-file:

 

1. The beneficiary distributions are entered on 1041 Schedule B/Line 9 as "Income required to be distributed currently" totaling $60,430.  Are beneficiary distributions considered income???  I did not think so but somehow the program led me to fill out info that results in the distributions being listed as so.  Is it correct or do I need to go back and change something?

 

2. On 1041 Other Information (near the end) Line 8 states "If the decent's has been open for more than 2 years, attach an explanation for the delay in closing the estate, and check here".

 

I checked this box but was not provided an opportunity by TT to compose the required explanation.  How do I fix this?

 

3.  As the executor, I earned a mandatory fee on work done on the estate per the state of NJ schedules.  Does the estate need to generate me a 1099 form for the earned amount or can I just file that amount as part of my personal 2021 tax return?  If I need to generate a 1099, how do I go about doing that?