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New Member
posted Jun 3, 2019 4:21:06 PM

Why is Turbotax splitting the qualified dividends between the bene and the simple trust?

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1 Best answer
Level 15
Jun 3, 2019 4:21:07 PM

"Why is Turbotax splitting the qualified dividends between the bene and the simple trust?"

Make sure the "Check to allocate deductions pro-rata to all classes" box is unchecked on your Distributable Income for Schedule(s) K-1 Worksheet (see first screenshot).

Also, ensure that the proper beneficiary's percentage of the income distribution deduction is entered on the Beneficiary's Allocation Smart Worksheet (see second screenshot).

1 Replies
Level 15
Jun 3, 2019 4:21:07 PM

"Why is Turbotax splitting the qualified dividends between the bene and the simple trust?"

Make sure the "Check to allocate deductions pro-rata to all classes" box is unchecked on your Distributable Income for Schedule(s) K-1 Worksheet (see first screenshot).

Also, ensure that the proper beneficiary's percentage of the income distribution deduction is entered on the Beneficiary's Allocation Smart Worksheet (see second screenshot).