CCH Axcess Tax

Schedule K1

Notes:

Schedule K-1 amounts are calculated based on the Form 1041, Schedule B, Line 15, the expense allocation worksheet, the type of trust and capital gains that are included in the distributions based on entries listed below. See the K-1 workpapers for further assistance.
Each Schedule K-1 can be suppressed by utilizing Beneficiaries > Beneficiary Information > Beneficiary Detail > Suppress Schedule K-1.

Government Form		CCH Axcess Input
		Worksheet	Section	Field
Tax year beginning and ending		General > Basic Data	General	Fiscal year dates - Beginning Fiscal year dates - Ending
Final K-1		General > Basic Data	General	Final return
	OR
		Beneficiaries > Beneficiary Information	Beneficiary Summary > Detail > General	Final Schedule K1
Amended K-1		General > Basic Data	General	Amended return
Estate or Trust's EIN		General > Basic Data	General	Employer Identification Number
Name of estate or trust		General > Basic Data	General	Estate or trust name Estate or trust name continued
Fiduciary's name, address, city, state, and ZIP code		General > Basic Data	General	Name and title of fiduciary Name and title of fiduciary continued Street address City State ZIP code
Check if Form 1041-T was filed		Beneficiaries > Specific Allocation - Other	Specific Allocation - Other > Detail > Specific Allocation - Other	Estimated Tax
Check if Form 1041-T was filed		Payments/Penalties/Estimates > Penalties	Form 1041-T Information	X if filing 1041-T separate from 1041 Date Form 1041-T was filed
Check if final Form 1041		General > Basic Data	General	Final return
Beneficiary's Identifying Number		Beneficiaries > Beneficiary Information	General	Social Security Number or Employer ID Number
Beneficiary's name, address, city		Beneficiaries > Beneficiary Information	Beneficiary Summary	Entity name or First Middle initial Last name Suffix Name Continuation Address City State Zip Code
Domestic beneficiary	Assumed
Foreign beneficiary		Beneficiaries > Beneficiary Information	General	Residency of "FC"
1		Beneficiaries > Beneficiary Information	General	Ordinary Income Distributions Other Amounts Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Income	Specific Allocation - Income	Interest > Amount Interest > Decimal U.S. Interest > Amount U.S. Interest > Decimal
2a		Beneficiaries > Beneficiary Information	General	Ordinary Income Distributions Other Amounts Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Income	Specific Allocation - Income	Non-qualified dividends > Amount Non-qualified dividends > Decimal
2b		Beneficiaries > Beneficiary Information	General	Ordinary Income Distributions Other Amounts Section 663(b) amount
	OR
		Beneficiaries - Specific Allocation - Income	Specific Allocation - Income	Qualified Dividends > Amount Qualified Dividends > Decimal
3		Beneficiaries > Beneficiary Information	Beneficiary Summary	Capital Gain Distributions > Short-term Amount Capital Gain Distributions > Short-term Percent
3		Beneficiaries > Distribution Information	Distribution options	Include all capital gains as income Distribute capital gains if distribution amounts exceed ordinary income
4a		Beneficiaries > Beneficiary Information	Beneficiary Summary	Capital Gain Distributions > Long-term Amount Capital Gain Distributions > Long-term Percent
4a		Beneficiaries > Distribution Information	Distribution options	Include all capital gains as income Distribute capital gains if distribution amounts exceed ordinary income
4b		Beneficiaries > Beneficiary Information	Beneficiary Summary	Capital Gain Distributions > Long-term Amount Capital Gain Distributions > Long-term Percent
4b		Beneficiaries > Distribution Information	Distribution options	Include all capital gains as income Distribute capital gains if distribution amounts exceed ordinary income
4c		Beneficiaries > Beneficiary Information	Beneficiary Summary	Capital Gain Distributions > Long-term Amount Capital Gain Distributions > Long-term Percent
4c		Beneficiaries > Distribution Information	Distribution options	Include all capital gains as income Distribute capital gains if distribution amounts exceed ordinary income
5		Beneficiaries > Beneficiary Information	General	Ordinary income required > Amount Ordinary income required > Decimal Section 663(b) > amount
	OR
		Beneficiaries > Specific Allocation - Other Income and ESBT Final Year	Specific Allocation - Other and ESBT Final Year	Other portfolio income > Amount Other portfolio income > Decimal
6		Beneficiaries > Beneficiary Information	General	Ordinary - required 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Income	Specific Allocation - Income	Nonpassive Business > Amount Nonpassive Business > Decimal Passive Business > Amount Passive Business > Decimal
7		Beneficiaries > Beneficiary Information	General	Ordinary income distributions Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Income	Specific Allocation - Income	Nonpassive Rental R.E. > Amount Nonpassive Rental R.E. > Decimal Passive Rental R.E. > Amount Passive Rental R.E. > Decimal
8		Beneficiaries > Beneficiary Information	General	Ordinary income distributions Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Other and ESBT Final Year Deductions	Specific Allocation - Other and ESBT Final Year Deductions	Nonpassive Other Rental Income > Amount Nonpassive Other Rental Income > Decimal Passive Other Rental Income > Amount Passive Other Rental Income > Decimal
9		Beneficiaries > Beneficiary Information	General	Ordinary income distributions Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Other	Specific Allocation - Other	Depletion Depletion/Amortization
	OR
		Beneficiaries > Distribution Information	Distribution Options	Depreciation, amortization, and depletion distribution options
10		Beneficiaries > Beneficiary Information	Beneficiary Information > Detail > General	Ordinary income - required Other amounts - discretionary Section 663(b) amount
	OR
		Beneficiaries > Specific Allocation - Other	Specific Allocation - Other	Estate tax
11		Beneficiaries > Beneficiary Information	Beneficiary Information > Detail > General	Ordinary income - required Other amounts - discretionary Section 663(b) amount
		Beneficiaries > Specific Allocation - Other		Excess Deduction - Section 67(e) > Amount (A) Excess Deduction - Section 67(e) > Decimal (A) NOL Regular Tax > Amount (E) NOL Regular Tax > Decimal (E) NOL AMT > Amount (F) NOL AMT > Decimal (F)
		Beneficiaries > Specific Allocation - Other continued		Excess Deduction - Non-Miscellaneous Itemized > Amount (B) Excess Deductions - Non-Miscellaneous Itemized > Decimal (B)
		Beneficiaries > Specific Allocation - Other continued	Final Year Excess Deductions Breakdown	Fiduciary fees (A) – Override Attorney & accounting fees (A) – Override Other administrative fees (A) – Override Other non 2% itemized deductions (B) – Override 1098 home interest (B) – Override Non-1098 home interest (B) – Override Investment interest expense (B) – Override Mortgage insurance premiums (B) – Override Other taxes (B) – Override Real estate taxes (B) – Override State and local taxes (B) – Override
		Beneficiaries > Distribution Information	Distribution Options	Use alternate excess deduction distribution method
	AND
		Beneficiaries > Beneficiary Information	Beneficiary Information > Detail > General	Short-term gains and losses > Amount Short-term gains and losses > Decimal Long-term gains and losses > Amount Long-term gains and losses > Decimal
12		Beneficiaries > Beneficiary Information	General	Ordinary income - required Other amounts - discretionary Section 663(b) amount
12		Beneficiaries > Specific Allocations - Other	Specific Allocations - Other > Detail > Specific Allocation - Other	Minimum tax income (A) AMT adjustment attributable to: - qualified dividends (B) - net short-term capital gains (C) - net long-term capital gains (D) - unrecaptured section 1250 (E) - 28% rate gain (F) Depreciation/Amortization (G & I) Depletion (H) Exclusion items (I)
13		Beneficiaries > Specific Allocation - Other	Specific Allocation - Other	Estimated tax (A) Tax withheld (B) Credits (C through U)
		Beneficiaries > Specific Allocation - Other continued	Specific Allocation - Other continued	Federal Withholding - Override (B)
		Beneficiaries > Distribution Information	Distribution Options	Distribute credits using ordinary income percent
14		Beneficiaries > Beneficiary Information	General	Ordinary income - required Other amounts - discretionary Section 663(b) amount Net investment income (E)
	OR
		Beneficiaries > Specific Allocation - Income	Specific Allocation - Income	Tax exempt interest > Amount (A) Tax exempt interest > Decimal (A)
		Beneficiaries > Specific Allocation - Other	Specific Allocation - Other	Foreign Tax (B & G) Basis Adjustment > Amount Basis Adjustment > Decimal
		Beneficiaries > Distribution Information	Distribution Options	Suppress the printing of net investment on Schedule K-1
		Beneficiaries > Distribution Information	Other Information	Description Amount Distribution Code FS
		Beneficiaries > Specific Allocation - Other Income and ESBT Final Year	Specific Allocation - Other and ESBT Final Year	Qualified business income (I) W-2 wages (I) Unadjusted basis on acquisition of qualified property (I) Cooperative dividends adjustment (I) 199A REIT dividends (I) PTP income (I)

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