K-1 from Estate (form 1041)

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  • Absolut
    Senior Member
    • Feb 2006
    • 137

    #1

    K-1 from Estate (form 1041)

    I have a K-1 from an Estate. in Box 14 - I have the Code "I", with 3 lines different numbers and same code. When you look at the notes on this it states Foreign Gross Receipts and Expense (which I understand wither Foreign tax can go, either Form 1116 or Schedule A, but where does General Limitation Income form the Netherlands go on the tax return? It list the same amount twice. Thank you for your help.
  • Burke
    Senior Member
    • Jan 2008
    • 7068

    #2
    The General Limitation Income also goes on the Form 1116 for calculations of the FIT deduction.

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