Allocation of income distribution deduction on Schedules K-1
The Allocation of Expenses by Income Type―Tax Basis Worksheet shows the net income types available for distribution to beneficiaries.
The application allocates to the beneficiary a proportionate share of all the non-gain net income categories available when you use either of the following:
- Equal allocation (on theAllocatescreen in theAllocationfolder).
- Income Distribution amounts or percents (on theFederaltab in theBeneficiary Informationwindow).
If you use special allocations on the
Federal
tab in the Beneficiary Information
window, the application allocates only the categories indicated for allocation to the beneficiary.
