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Schedule K-1 generated by Turbotax Business for 1041 return rejected by Turbotax Premier for personal return.
Wife took a distribution this year from her complex trust for first time (no distributions required by trust), but the Schedule K-1 generated by Turbotax Business software for a 1041 and calculates distributions, gives an error message when this K-1 is entered into our 1040 personal return. Specifically, the qualified dividends (2b) total exceed the ordinary dividends (2a) total on the K-1 generates an error message when entered into Turbotax Premier software. In addition the K-1 lists some capital gain distribution (not all) for the 1040 which I am not certain is correct. I thought the 1041 would account for the entire capital gain.
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‎April 24, 2025
1:27 PM