Allocable means allocated or assigned. Essentially, TurboTax is asking how much of the capital gains were given to the beneficiary. Does all of this relate to a Trust? An Estate return? If this relates to a Trust, then the amount to allocate to the beneficiary may be explained in the Trust Agreement or, if this relates to the administration of an Estate, the Last Will and Testament may indicate what amount to allocate to the beneficiary.
Follow-up with additional information so that we can better understand your tax situation.
@derenge
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