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I don't understand why the beneficiary's k-1 is showing Code A in Box 12 with an amount equal to box 6 but as a negative amount. No other entries on K-1, including QBI even though all of the activity on the trust is material participation ordinary trade or business income.
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You are preparing the 1041 and that is how the software is creating the K-1?
Or are you preparing the 1040, and your client received that K-1 which does not make sense to you?
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Preparing the 1041 and the K-1 -- I believe the IDD on a min tax basis which is equal to the IDD results in no Alt min adjustment yet it is showing the IDD as a negative amount as the K-1 box 12 code A amount.
Thank you for your help.
Cindy
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Same issue for me for 2019 form 1041 and the K-1.
Any resolution? Thank you.
