Form K-1 box 11B Turbotax says to search on the description in Topics. When i searched it said "no information available". What do i do?

[Alli1]

The description of my K-1 box 11B is "Taxes portion of Excess Deductions on Termination". Where do i enter that information?

[PatriciaV]

If this K-1 came from an estate or trust, the amount from Form 1041 Schedule K-1 Box 11 Code B refers to state and local taxes that must be manually entered on the related tax form.

1. Log into TurboTax and open your return.
2. Go to Federal >> Deductions & Credits >> Estimates and Other Taxes Paid >> Other Income Taxes >> Withholding not already entered on a W-2 or 1099. 
3. Choose a state from the State withholdings drop-down and enter the amount from Box 11 Code B.

Your entries will report the amount on Schedule A Line 5a.

[BillCJr]

This was a easy-to-understand, concise answer.  Thank you!  I had an estate K-1 with $1,300 in 11b, explained as 'Excess Deductions, Real Estate Taxes'.  The amount does not impact my Federal Return, but does passthrough to my State (NJ) return.  It shows up as 'Total NJ Income Tax Withheld'.  

Should I be concerned as it is not actually withheld from any W-2 or 1099 of mine, but passed on through the Estate's K-1?

[DaveF1006]

Not always, but it’s important to check the “Withholding” label. If the $1,300 was state Income Tax paid by the estate for you, then it belongs under “Withholding.” But since your K-1 lists it as “Excess Deductions, Real Estate Taxes,” it’s likely being recorded as Income Tax Withheld when it should be a deduction instead.

Correcting the Entry: If you determine it is a deduction and not a payment of tax:

1. Remove it from the "Withholding" section in TurboTax.
2. Enter it strictly within the K-1 entry screens. TurboTax should ask about "Final Year Deductions" or "Box 11" specifically.
3. Note that NJ is notoriously "decoupled" from federal deductions; if it disappears from your NJ return after you move it out of withholding, that is likely the legally correct (though less favorable) result.

[BillCJr]

Thanks!  My concern is actually the opposite of it disappearing from the NJ return.  I’m filing Federal standard deduction so, although the $1,300 is in my Sched A,’it’s irrelevant.  The issue is the original advice (Not yours) to it on 5A may not be best.  That treats it as income tax withheld, so on the NJ return it calculates I had $1,300 withheld which I did not, and wants to refund it to me.

I’m reasonably sure that's wrong, since these were excess deductions in the form of real estate taxes.  

[PatriciaV]

From your original description of the amount reported for K-1 Box 11 Code B, it appeared the amount reflected taxes paid on your behalf that would be reported on Schedule A Line 5(a). Code B reports a variety of deductions that may be included in several places on the tax return.

However, as DaveF1006 explained, if this amount represented Real Estate Taxes, the amount should be reported on Schedule A Line 5(b).

See also IRS Instructions for Schedule K1 (1041) Line 11 Code B.