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Level 10
December 7, 2023
Solved

K-1 not allocating income by correct percentage

  • December 7, 2023
  • 1 reply
  • 14 views

Complex Trust with 2 beneficiaries. 50/50.  I input 50% for each in Screen 7.1

199A dividends on Statement A are not allocated 50/50. Its 54/46. What is going on?

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Best answer by strongsilence

I removed my Sch B distribution override. Then I added the dollar distributions - 1/2 to 1 and 1/2 to the other - to Screen 7.2, and now the 199A amounts are 50/50.

1 reply

BobKamman
Level 15
December 7, 2023

Are both beneficiaries individuals?  Are other items being allocated 50/50 ?

Level 10
December 8, 2023

Both are individuals. There are two other items (Box 14 foreign income information) and Box 12 AMT and both are 50/50.