1041 box B override if zero K-1's

Forum|Forum|4 years ago
March 25, 2022
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I have a complex trust 1041 with income being handled by the trust (no distributions) for 2021 (1st year of trust). How do I make Box B of the 1041 denote zero K-1's attached (no K-1's since no distributions). There are no K-1's being generated, but 2 beneficiaries. There's no way to override the 2 in Box B. If I delete the beneficiaries, then I get an error on the Fiduciary Info worksheet looking for Form 720 to be checked if I want to e-file (suppose I could just mail it?).

If I leave Box B as 2, do I need to generate and attach K-1's (zero distributions entries)? How do I make TTB work for this?

TurboTax Business Windows

Best answer by Anonymous_

You do not have to be concerned with the K-1 issue. The K-1s will be filed with your 1041 but Part III will be blank.

If you want to zero out that particular section, you can enter Forms Mode and clear out the number of K-1s with an override (which should not negatively impact your ability to e-file).

Anonymous_Answer

Level 15

You do not have to be concerned with the K-1 issue. The K-1s will be filed with your 1041 but Part III will be blank.

If you want to zero out that particular section, you can enter Forms Mode and clear out the number of K-1s with an override (which should not negatively impact your ability to e-file).