Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
renunnelly
Returning Member

entering form1041 schedule K1 box 9

the K-1 I received has an entry of 9*A in the box and in the amount is the code STMT in the amount box. Turbo Tax will not let me enter this code. Ref.: IRS Instructions for Form 1041 (2019) page 40 states that the entry on the K-1 I received is correct.

1 Best answer

Accepted Solutions
tagteam
Level 15

entering form1041 schedule K1 box 9

You cannot enter anything other than a number in the amount box. 

 

You should have received a statement, along with your K-1, with a description and a dollar figure. If you did not, you should contact the fiduciary of the estate or trust and inquire.

View solution in original post

4 Replies
tagteam
Level 15

entering form1041 schedule K1 box 9

You cannot enter anything other than a number in the amount box. 

 

You should have received a statement, along with your K-1, with a description and a dollar figure. If you did not, you should contact the fiduciary of the estate or trust and inquire.

ThomasM125
Expert Alumni

entering form1041 schedule K1 box 9

"STMT" means that there is a statement attached to the K-1 schedule that explains more about the entry. "STMT" isn't an acceptable code to enter on your tax return.  

 

Box 9 with a code of "A" means there is depreciation to be allocated to the recipient, and there can be various options as to how to report that, so that is probably why there is a statement attached.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
renunnelly
Returning Member

entering form1041 schedule K1 box 9

The form 1041` schedule k1 I received Has *A typed under the #9 and in the amount for box 9 is "STMT".

Irs instruction for form1041 schedule K1  page 40 states that this is the correct way of entering the STMT code.

tagteam
Level 15

entering form1041 schedule K1 box 9

The following was copied and pasted directly from the IRS instructions:

 

To assist the beneficiary in figuring any applicable passive activity loss limitations, also attach a separate schedule showing the beneficiary's share of directly apportionable deductions derived from each trade or business, rental real estate, and other rental activity.

 

Enter the beneficiary's share of directly apportioned deductions using codes A through C. Depreciation (code A).

 

Enter the beneficiary's share of the depreciation deductions directly apportioned to each activity reported in boxes 5 through 8. 

 

See page 41: https://www.irs.gov/pub/irs-pdf/i1041.pdf

 

 

If you are entering your K-1 into TurboTax using Step-by-Step, you need to enter a dollar figure in that box.

Dynamic AdsDynamic Ads
Privacy Settings
v