Trust Beneficiary K-1 Qualified Business Income Carryovers

[VBjC0M2G]

In the Schedule K-1 step-by-step, “Qualified Business Income Carryovers” asks me to enter my Qualified Business Income carryovers from 2019 as “Qualified Business Income suspended passive loss.” How do I know if I have these? Where would I even look for them? I am merely entering numbers into TurboTax from my Trust Beneficiary Schedule K-1.

[tagteam]

Apparently, you did not receive sufficient information from the trustee along with your K-1. 

You should contact the trustee or other responsible party.

[VBjC0M2G]

I am the trustee and beneficiary. I ended up having to contact the CPA who did my trust tax return. Only he could tell. It would seem as though TurboTax should provide some clue as to where to find these numbers. If you have any type of Schedule K-1 complexities at all, it might be best to have a CPA do your personal return.