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March 24, 2025
Question

K1 Estate Form 1041 Interest and Dividend income and Line 14H adjustment not carried forward into the return

  • March 24, 2025
  • 1 reply
  • 0 views

For form 1041 - I entered H (Domestic Beneficiary), Box 1 Interest Income, Box 2A Ordinary Dividends, Box 14E Net Investment Income, 14H Adjustment for Section 1411 net investment income or deductions (a small negative number that does not much offset the interest or dividends).  When I continue out of the form, the positive remaining investment income does NOT transfer to the tax return although it shows the form is there and the amounts I entered are there (on the actual FORM 1041 when I click forms to check it)....

 

Another different estate K1 I entered with rental income does summarize to the main tax return.

 

The accountant that provided the Interest Income K1 to me indicates it is taxable and doesn't know why the income amount isn't showing up on the main return.

 

Please help.  

    1 reply

    PatriciaV
    April 3, 2025

    The interest Income reported on Form 1040 Line 2 ("a" for tax-exempt, "b" for taxable) comes from Schedule B Part I. Please confirm that the interest from Schedule K-1 doesn't appear on Schedule B.

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