raneygr
New Member

income allocation between trust and beneficiaries

I have allocated dividend and interest distributions in forms k-1 between beneficiaries of a trust that allows such.  However, it does not seem that those amounts are taken off the trust income (lines 1 & 2) in form 1041. I have been in the K-1 worksheet and also Schedule B but can't find a good way to do it.  How is this done in the forms?