2018 UltraTax CS
Question
How do I enter both required and discretionary distributions for the same beneficiary?
Answer
If a beneficiary receives both a required distribution and a discretionary distribution, do the following:
- Choose View > Beneficiary Information > Federal tab.
- Enter allocation information in both the Required fields and the Discretionary fields in the Allocations group box or in the Special Allocations button, if applicable.
Only one unit of Schedule K-1 for the beneficiary prints, combining the amounts calculated for each type of distribution.
Related topic: 1041-US: Beneficiary allocations FAQs