Schedule K1 for Trust

Forum|Forum|1 year ago
April 14, 2025
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I find the information on my Schedule K1 for a Trust does not fit the canned questions in the TurboTax interview, and if I go to FORMS instead of Step-by-Step, I'm still not sure where to put the numbers that I show on the Sched K1. The numbers from the form itself fill in easily via the step by step, but then there are other numbers that are part of box 14 "I" STMT that seem redundant and are not labeled as anything in the interview or on forms; are those numbers just information backup for the numbers that are on the actual Sched K1 form? And if not, how do I know where to put them?

PatriciaV

Employee

First, be sure you are entering Schedule K-1 from the "Estate/Trust" option on the K-1 summary page.

The entries for Box 14 Code I are for Section 199A QBI. This is typically reported on a separate Statement A that comes with Schedule K-1.

After you complete the box entries in the interview continue to the page "We see you have Section 199A income."
Answer the related questions and enter the amounts from Statement A on the page "We need some information about your 199A income."
Be sure to check the first box for income and enter a number in at least one of the boxes that appear.

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Taxgal-3Author

The “related questions” is where I seem to get hung up because none of those questions fit the info for anything that shows on the K-1 and additional info (not labeled as Sched A, but was received with the K1) that was received … like questions ask about accrued interest, expenses, etc and have none of that info…

PatriciaV

Employee

On the page "We see you have Section 199A income," check the box for the choice that fits the income reported on the K-1 (if you have only dividends, check the second box).

On the page "We need some information about your 199A income," check the box for business income and enter an amount in at least one of the boxes that appear (business, rental, royalty, other income).

You can leave the other boxes blank if the additional information with the K-1 doesn't specifically mention these items.

Check "none of these apply" under Uncommon Adjustments.

For the question "Do you want to provide more info..." check the "No" box unless your income is greater than the amount on the "yes" line.

If you have other questions about Statement A, you may need to contact the company that sent you Schedule K-1.

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