Question

Generated a 1041, but where do I put that value in my 1040 ?

Forum|Forum|5 years ago
June 18, 2020
2 replies
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Hi

I used the business software to generate a 1041 using the 1099-R as directed which was easy, but I am confused were I plug that value into my 1040. When I use the "home business" software K-1 forms seemed to have been generated but they have no numbers/values in them, and I have no idea where I plug the value generated from the 1041 into the 1040. Have I missed something ? I was told that there is a box labeled "other income" and I just put the value there, but I am not sure, and those K-1 forms generated by the home business software look like they are supposed to be filled out.

Thanks for your help !

J

Carl11_2

Employee

You also need to print out the K-1 forms for that trust/estate return. A K-1 is issued to each owner or heir to that trust or estate. The K-1 is what is needed by the owner or benificiary recipient for their personal 1040 tax return. Nothing directly from the 1041 is entered on any other tax return. Only the K-1 issued by the trust or estate is what is needed for the personal 1040 tax return.