Can anyone help with this? I have a final return 1041 capital loss not distributed diagnostic

Forum|Forum|5 years ago
December 16, 2020
1 reply
11 views

I also tried overriding the Sch B lines but that somehow doubles the capital loss and doesn't clear the diagnostic.

ProConnect Tax

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Best answer by George4Tacks

Are you sure you checked the box for final return?

The "other" distributions should all 3 be 50 for each of the two beneficiaries. All 3 "required" distributions should be blank.

George4Tacks

Level 15

How did you complete the 1041 Distributions portion of the input?

Answers are easy. Questions are hard!

MPGCPA444Author

Level 3

There are two beneficiaries, and I entered 50.0 & 50.0 in their respective Other Long Term boxes. The capital loss is a carryover from prior years; there is no current year capital gain or loss. I tried entering 25.0 & 25.0 in both their Required and Other long term boxes, as I know sometimes that works, but it didn't clear the diagnostic either.

George4TacksAnswer

Level 15

Are you sure you checked the box for final return?

The "other" distributions should all 3 be 50 for each of the two beneficiaries. All 3 "required" distributions should be blank.

Answers are easy. Questions are hard!

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