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Retirement tax questions
Well, this is never easy. Not sure if you are an independent expert or with Turbo Tax software but I'll ask anyway. So I entered the distribution of corpus on schedule b, line 10, which is not taxable or reportable to beneficiary. The program creates a K1 with amounts for the beneficiary to report which according to our discussion on this subject would be incorrect. There are no "step by step" questions in the software on distribution of corpus so the only way to do this is by direct input to the "form". Perhaps the distinction of the various income tiers impacts this somehow and needs further direct input? If someone has an answer, I would appreciate it, thx
March 31, 2020
9:49 AM