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Why is line 14 on the K-1 Worksheet greater than line 13?
I am preparing a tax return for a trust with TurboTax Business. The Worksheet and also K-1 produced for this trust have erroneous figures. The numbers are correct where entered in the program and on Form 1041. How can I correct this? Do I need to delete the file and start over? As you can see from the screenshot below, line 14, and the information transferred to the K-1 is incorrect. The numbers above line 14 correspond to the information that I entered from the brokerage 1099. The trust earned $8 in interest last year, and surely the beneficiaries do not have to pay taxes on $120.
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ā€ˇFebruary 27, 2024
2:54 PM