Why aren't excess deductions on final 1041 allocated to K-1's?

rekrause — Sat, 01 Jun 2019 02:26:25 GMT

"Why aren't excess deductions on final 1041 allocated to...

Anonymous_ — Sat, 01 Jun 2019 02:26:27 GMT

"Why aren't excess deductions on final 1041 allocated to K-1's?"

They absolutely should be but, on occasion, they don't quite get all the way through to the K-1s. You can resolve this issue by making a distribution of an amount, even if that amount is negative [see first two screenshots].

Additionally, enter Forms Mode (click the Forms icon in the upper right side of the screen) and ensure that there is indeed a percentage entered on Lines B1 and B2 in the Beneficiary's Allocation Smart Worksheet [see third screenshot]. If not, manually enter the appropriate percentage to be allocated to the beneficiary on each K-1.

Yes, that did the trick. Thanks!

rekrause — Sat, 01 Jun 2019 02:26:28 GMT

Yes, that did the trick. Thanks!

You are most welcome.

Anonymous_ — Sat, 01 Jun 2019 02:26:30 GMT

You are most welcome.

topic Why aren't excess deductions on final 1041 allocated to K-1's? in Business & farm

Why aren't excess deductions on final 1041 allocated to K-1's?

"Why aren't excess deductions on final 1041 allocated to...

Yes, that did the trick. Thanks!

You are most welcome.