Amounts not carrying to Schedule K-1
Any of these items could be the reason why amounts aren't carrying to Schedule K-1 for the beneficiaries.
- Make sure the income distribution information's been completed on both theOrganizer,Beneficiary Info (1041),Beneficiary Data,Distribution Input - Totalsscreen as well as theBeneficiary Information,General Beneficiary Informationscreen.
- Make sure there's both positive DNI (distributive net income) on Schedule B, line 7 (Form 1041, Page 2) and distributions on Schedule B, line 11.
- Make sure there's positive taxable ordinary income available to be distributed. Do this by subtracting Form 1041, Page 1, line 4 (capital gains) from Form 1041, Page 1, line 17 (adjusted total income). If the result's positive and ordinary income distributions are being made to this particular beneficiary, then Schedule K-1, lines 1, 2, 5, and/or 6 should have a value. If negative, then Schedule K-1, lines 1, 2, 5, and 6 will be left blank (if final year, excess deductions line will have value).
- Make sure that no severe diagnostics have been generated relating to beneficiary allocations.
- And lastly, make sure you don't override beneficiary K-1 amounts.
