Why is the 1041 information not transferring correctly to the K-1?

Forum|Forum|2 years ago
February 27, 2024
1 reply
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I am preparing a return for a simple trust with brokerage information from two 1099 forms. The total interest is $8. The interest shown on the K-1 is $120. I have gone back and checked my entries in the worksheet and they are correct. The correct amount of interest, $8, is shown under interest on the 1041. Why is this happening and what do I need to do to correct it?

TurboTax Business Windows

Anonymous_

Employee

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kayelenaAuthor

Thank you for your response.

Yes, I checked and the interest amount was entered correctly on the worksheet and is correct on the 1041. There is also dividend income and Capital Gains income. Both appear to be correct on the K-1. The worksheet and 1041 show $8 in interest, yet the K-1 shows $120.

This is a very simple return with nowhere I can see to make an error. Any help you can give will be sincerely appreciated.

Kay Archer