Question

New Jersey return with Estate K-1

Forum|Forum|5 years ago
April 13, 2021
1 reply
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I received a K-1 from an estate with a final deduction in 11 D and noted as 14z. Should this be showing up in line 26 other income?

E

ErnieS0

No. Line 11D of Form 1041 Schedule K-1 is a long-term capital loss carryover.

You may have entered the information in the wrong K-1 section in TurboTax. Line 11 for Form 1065 Schedule K-1 is other income. That's for partnerships.

Type k-1 in Search in the upper right
Select Jump to k-1
Say YES to "Do you want to review Schedules K-1 or Q?"
Update Partnerships/ LLCs (Form 1065). If you have an estate there, delete it.
Then select Estates or trusts (Form 1041)

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