K1 For A Trust Beneficiary Not Computing Properly?

[mcoming]

Hi,

I am the fiduciary for a complex trust with only one beneficiary.  I have entered all the data from 1099-INT, 1099-DIV, and 1099-B - and set up the distribution to be 100% to my sole beneficiary.  However, when TurboTax generates the K1 for this beneficiary the Interest and Dividend amounts reported are completely different than what is showing on the 1041 for the trust - I have no idea where these amounts are coming from!  The trust also received a RMD from an inherited IRA which I entered as Other income from a 1099-R and this amount shows up correctly in the 1041 but a completely different number shows up on Part III line 5 of the K1.  What is happening?  Thanks for any and all help!!!

Mark

[M-MTax]

No one here can see your 1041 (or K-1) so it would be difficult to answer your question accurately without more information.

First of all, do you have any deductions? Obviously, that would have an impact on your K-1 totals.

Also, are you certain you distributed all of the income to your beneficiary? Check the forms in forms view against your 1099s.

[mcoming]

Hi, thanks for your response.  There are no deductions.  The amounts appearing on the K1 for Interest, Ordinary and qualified dividends, and Other porfolio and non business income are all higher than the correct amounts as reported on the various 1099s.  The 1041 shows the correct amounts - as far as I can tell the error seems to be coming in on the fomr Dist Inc K-1 which is an automatically populated form - but in the Part II of that form - Allocations to Income all the correct numbers are in line 1 - Income, the subtotal on Line 10 is correct - the total distributable on Line 13 is correct - but Line 14 - amount distributable to beneficiary shows increased amounts in every column - increased over what was on Line 1, 10, or 13.  Line 14 is what ends up being transferred to the K1 and I cannot for the life of me figure out where that difference is coming from.  Hope that helps.

Mark

[M-MTax]

Sorry to say that the additional information really doesn't help much on this board. There is clearly some sort of input error which customer support should be able to resolve for you. At least they can diagnose the issue probably in short order.