billwtb
Level 2
12-07-2019
08:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
i am doing a 1041 filing for an estate and all income is passing thru to beneficiaries via K-1. one the form 8960 there is a number on line 19A of $254 and i can not figure out where that number is coming from. By coincidence $254 is the amount of taxes paid by the estate.....but i do not see why that would be the number on 19a.
anyone have any ideas/
thanks
bill
Solved! Go to Solution.
Labels
poolcleaner
Level 9
12-07-2019
08:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Line 19a—Adjusted Gross Income
(AGI)
If the estate or trust doesn’t own a CFC or
PFIC, enter its AGI for regular income tax
purposes.
If the estate or trust owns a CFC or
PFIC, it may need to make adjustments.
See Line 13—Modified Adjusted Gross
Income (MAGI), earlier.
In most cases 19a comes from Line 21 on page 1 of the 1040.
George4Tacks
Level 15
12-07-2019
08:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Maybe @Intuit BettyJo can track down a ProSeries expert to get a better answer for this 1041.
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
poolcleaner
Level 9
12-07-2019
08:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I agree that the $254 in both places is confusing.
