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Level 6
February 7, 2024
Question

k-1 on 1041 wrong anyone else see this

  • February 7, 2024
  • 1 reply
  • 5 views

1041 has  interest income. and is entered as interest income.  It is not showing up on k-1 it is throwing it  into long term capital gains. Which the return does have long term capital gains but why is the interest showing up there.  I had to do an override on all the beneficiary's k-1 and enter them manually.

 

thx Michele

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1 reply

sjrcpa
Level 15
February 7, 2024

Are there expenses?

Is the K-1 LTCG amount less than the 1041 page 1 LTCG?

The more I know the more I don’t know.