Solved
S Corp K-1 change of ownership % allocation
S Corp stock was owned by an estate when SH died intestate. In July of 2023, the stock was distributed to beneficiaries.
Prior to the distribution of stock, the income was significant. After the distribution of the stock, there was a loss.
I have to allocate the income earned based on actuals, not weighted average. This turns out to 103% to estate and -.01% to beneficiaries. Lacerte will let me enter a -.01% in screen 6 K-1 allocation percentage. However, I am not able to enter 103% for the estate.
Is there a way to "specially allocate" the items so that the estate shows the proper income and the beneficiaries show the loss?
