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Fiduciary 1041 passthrough income apportioned to income or corpus in ProConnect

SOLVEDby Intuit1Updated July 27, 2023

To report estate or trust income from pass-through entities that should be reported as trust accounting income, review the instructions below.

  1. From the Input Return tab, go to General  Accounting Income. 
  2. In the Accounting Income Option Overrides section, enter a 1 in Include flow-through K-1 entries: 1 = yes, 2 = no [O].
    • Entering 1 will include income and expense items from a flow-through Schedule K-1 in trust accounting income.
    • Entering 2 will exclude income and expense items from a flow-through Schedule K-1 in trust accounting income (this is the ProConnect default).

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