Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

Form 1041 - Mid year Successor beneficiaries - How to allocate K-1s

Level 1

I have a taxpayer who was the sole beneficiary of a family trust that died during the year. Her interest was then allocated to three successor beneficiaries. How do I get the K-1s to reflect that properly?

Labels (1)
0 Cheers
2 Comments 2
Level 15

Calculate manually and then override in the software.

Level 1

Thank you. Although I was optimistic that the software was robust enough to handle it,  I was afraid that might be the answer since I couldn't find any input areas that could address it.. I appreciate your quick response.

0 Cheers