Final K1 1041 Box 11 E F

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lesmir302
lesmir302 Member Posts: 1 Newcomer

Entered Final K1 for estate, it had figures for box 11 E and F. Then I got a warning, Should I now go to other income and enter NOL for E NOL Carryover and F Alternative Tax NOL to match box 11 figures from K1 screen?

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  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 247
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    Hello,

    When you enter those amounts in box 11 with code E and F, you get the following Tax Alert:

    "Other NOL Carryforward Missing
    The amounts you entered in Box 11 of your K-1 with a code of E and F need to be added to any other net operating loss carryforward you have and entered on the Other Sources of Income screen."

    Follow the link or go to the Other Income page under Income > Uncommon Income and see the NOL Carryfoward section. Enter the Net Operating Loss for Code E and the AMT Net Operating Loss for Code F.

    Later you will be asked to asked to enter a description on how the NOL was calculate, where they came from and what year.