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JP66
Level 2

Schedule K-1 (Form 1041) Estate

Received a Schedule K-1 form 1041 and has the following in Box 11
"Excess deduction final year (691)"

Turbotax asks if this is box:
11A Excess Deductions - Section 67(e) Expense
or

11B Excess Deductions - Non-miscellaneous Itemized Deductions

The K-1 form just has box 11, no designation as to A or B
Not sure where to enter the negative (691) in Tubotax.

Excess Deductions - Section 67(e) Expense????
Excess Deductions - Non-miscellaneous Itemized Deductions????

Thanks in advance for any insight....

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1 Reply

Schedule K-1 (Form 1041) Estate

You need to contact the administrator (executor) of the estate (or whoever is responsible for preparing the return) since that Line on your K-1 should have a code.

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