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rtntrust
New Member

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

 
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tagteam
Level 15

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

"Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1"

You can go back through the Distributions section and ensure that you actually made a distribution, and also try entering the appropriate figures for Percentages and Distribution amounts (see first screenshot).

Enter forms mode and ensure that sections A and B are populated in the Beneficiary's Allocation Smart Worksheet (see second screenshot) and, if not, enter the appropriate figures in those sections. After doing so, you should definitely see Part III of the K-1 populate.

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5 Replies
tagteam
Level 15

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

"Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1"

You can go back through the Distributions section and ensure that you actually made a distribution, and also try entering the appropriate figures for Percentages and Distribution amounts (see first screenshot).

Enter forms mode and ensure that sections A and B are populated in the Beneficiary's Allocation Smart Worksheet (see second screenshot) and, if not, enter the appropriate figures in those sections. After doing so, you should definitely see Part III of the K-1 populate.

mibiznez
New Member

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

Well, I did confirm the distribution in that section, not as a percentage but as a second tier distribution. It does show in the Smart Worksheet in Section A2 (since its a dollar amount second tier distribution, not a percentage). Yet it shows up nowhere on Part III of the K1 form as any sort of distribution.
tagteam
Level 15

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

That's why I suggested ALSO entering a percentage in the Smart Worksheet. Try it and you will see Part III populate.
mibiznez
New Member

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

Ok, I did that, and while it is now showing in Part III, it is not reflecting the full amount of the distribution, but instead is reporting as a depreciated apportioned amount that is less than the actual distribution. I am not sure how this is occurring. All I want to do is report a distribution I received from my trust, and that it be the amount it should be.
tagteam
Level 15

Why is 2016 reported distribution on Turbotax Business on 1041 not on any line as distribution on K-1, though it shows on K-1 worksheet?

What do you mean by "depreciated apportioned amount"? Can you provide some more specific information? For example, the types of income, expenses, number of beneficiaries, etc.? You might also want to start another thread for this because it doesn't appear as if you are the original poster.
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