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April 18, 2021
Question

Questions about Schedule K-1 Box 14

  • April 18, 2021
  • 1 reply
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We received a Schedule K-1 as part of the closing of a living trust. Final disbursement of trust was between three beneficiaries.

 

TurboTax is asking additional questions about Box 14 that are not indicated on the K-1 we received. (Gross income sourced at beneficiary level, breakdown between US source and foreign source, income category, and a break down of interest expenses and other expenses at the U.S. source level and foreign source level. )

 

Where might I find this information?

    1 reply

    Employee
    April 18, 2021

    You are most likely going to have to contact the trustee for that information. 

     

    Typically, however, that would be in the passive income category sourced at the beneficiary level and "RIC" for the "country".