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For Form 1041 U.S. Income Tax Return for Estates and Trusts, 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) Beneficiary’s Share of Income, Deductions, Credits, etc.. 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:

  1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Click the Distributions to Beneficiaries dropdown, then click Distributions.
  3. Continue with the interview process to enter your information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.

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