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Turbo Tax 2015 Business - Form 1041 How Much Was Distributed to Each Beneficiary - Is this the cash distributed or the amount in Income Distribution Deduction?
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Turbo Tax 2015 Business - Form 1041 How Much Was Distributed to Each Beneficiary - Is this the cash distributed or the amount in Income Distribution Deduction?
"Is this the cash distributed or the amount in Income Distribution Deduction?"
The IDD is strictly formulaic and it appears as if you distributed an amount in excess of the deduction.
Thus, the amount distributed to each beneficiary would the amount required to be distributed currently (whether or not that amount was actually distributed) plus the amount that was actually distributed.
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Turbo Tax 2015 Business - Form 1041 How Much Was Distributed to Each Beneficiary - Is this the cash distributed or the amount in Income Distribution Deduction?
"Is this the cash distributed or the amount in Income Distribution Deduction?"
The IDD is strictly formulaic and it appears as if you distributed an amount in excess of the deduction.
Thus, the amount distributed to each beneficiary would the amount required to be distributed currently (whether or not that amount was actually distributed) plus the amount that was actually distributed.