Lacerte 1041 distributions

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#1
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300
Joined:
26-Apr-2022 10:00pm
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Los Angeles
Hi,

I am confused about how "Dollar distributions" work in lacerte on trust income tax returns.

e.g. if there is $100,000 in trust income and each of 5 beneficiaries receives $200,000 (input as a dollar distribution), I would expect each K-1 to show $20,000 of income.

But instead it shows $200,000 of income on each K-1 (as if the entire distribution is taxable income).

So instead, I have to determine the percentage each beneficiary received and input as a percentage.

Can someone please explain?

Thanks!!!!
 

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