Working in the 1041 tax return for 2019.
199A information for REIT Dividends Box 5 was entered in Form 1099-Div Worksheet.
199A REIT Dividend information flows through to the Interest/Dividend Income Work.
This is a complext trust 1041 tax return.
There are 4 beneficiaries thus 4 K-1 Forms with 25% ownership interests.
All of the distributed net income (line 7, 1041 tax return) is going out 25% to each of the beneficiaries. Trust is not paying the tax. All income is flowing out to beneficiaries.
When I look at the beneficiary K-1 forms I see the program allocating properly their share of dividends, qualified dividends, interest income, tax exempt income, and foreign tax.
What I need clarification on it why the 1041 tax program is not allocating the 199A REIT dividend information coming off the 1099 Investment Report to each of the beneficiaries K-1 Forms.
Am I missing something. Is the 1041 tax program supposed to be doing this allocation or the allocation should not be happening for some reason or am I supposed to be manually putting in this allocation on each of the K-1 forms.