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For Form 1041, Schedule B, Lines 9 through 11, TaxAct calculates these items by totaling the distribution information entered for each beneficiary on the Schedule K-1's (Form 1041). You must enter the amount of total distributions and income required to be distributed for each beneficiary. TaxAct calculates other amounts required to be distributed by subtracting the required distributions from the total distributions. 

TaxAct uses each beneficiary's portion of total distributions to help allocate income, deductions, and credits to the Schedule K-1s.

To enter distribution information into TaxAct for each beneficiary, follow the directions below.

  1. From within your TaxAct® return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Distributions to Beneficiaries to expand the category and then click Distributions
  3. The program will proceed with the interview questions for you to enter or review the appropriate information

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