Amending 2011. AZ resident client has final K-1(form 1041) trust. First line on 11 reads: 11 A* STMT. Since the property was in CA, included is a CA form K-1 (541).
Column b (amt from Fed Sch K-1 (1041)) on this CA (541), line 11 reads: “11a SEE STMT” . I entered this amt associated with this line under column b in the line 11 A* STMT above and a positive amt appears on line 23 Sch A of form 1040 as “Exps from Sch K-1” and generates a refund for the TP plus creates an NOL.
If I don’t enter that amt into line 11 A* STMT, no refund for TP but still creates same NOL amt but no amt flowed to line 23 of Sch A.
Now that your brains are fresh, any help would be appreciated.
Column b (amt from Fed Sch K-1 (1041)) on this CA (541), line 11 reads: “11a SEE STMT” . I entered this amt associated with this line under column b in the line 11 A* STMT above and a positive amt appears on line 23 Sch A of form 1040 as “Exps from Sch K-1” and generates a refund for the TP plus creates an NOL.
If I don’t enter that amt into line 11 A* STMT, no refund for TP but still creates same NOL amt but no amt flowed to line 23 of Sch A.
Now that your brains are fresh, any help would be appreciated.