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TurboTax Business 2017 double counting capital gains distributions in Trust Accounting Income?

Forum|Forum|7 years ago
June 4, 2019
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I just started my 2017 trust return. Something's happening that didn't last year. The 'Trust Accounting Income' on my 1041 Schedule B line 8 seems to be double counting the capital gains distribution from my 1099-DIV Box 2a. The discrepancy is exact.

Does anyone know what's going on here? Is it a new bug? Or is it a change in behavior that's expected and correct?

The interesting thing is that it ends up not mattering because further down Schedule B, on line 15 the smaller of line 13 and line 14 is entered, and line 14 has the correct number. Still, I like to understand all the numbers.

Thank you.

TurboTax Business Windows

Best answer by Anonymous_

" Is it a new bug?"

I have a copy of TurboTax Business and can confirm the behavior you are seeing. I can also confirm that it is neither expected nor correct (most likely a bug in the trust accounting computation as it relates to CG distributions and/or allocating those distributions to beneficiaries).

I have reported this to the moderators so it will get passed along to the developers.

S

sandraf

Employee

@scooter123 i'll be reaching out to you via email requesting more details

L

lm21

I have the same problem of it adding capital gains distributions in for a 2nd time

A

Anonymous_Answer

Employee

" Is it a new bug?"

I have a copy of TurboTax Business and can confirm the behavior you are seeing. I can also confirm that it is neither expected nor correct (most likely a bug in the trust accounting computation as it relates to CG distributions and/or allocating those distributions to beneficiaries).

I have reported this to the moderators so it will get passed along to the developers.

J

jimritchie2017

I'm getting a similar error. TurboTax 2017 gives Schedule B(Form 1041) line 2, too large by almost, but not exactly, a factor of 2. Subsequent lines in Schedule B and elsewhere throughout the return are affected. Is a patch or work-around available?