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  7. Schedule K-1 (Form 1041)

ProWeb - Form 1040 - Schedule K-1 (Form 1041) Income, Deductions, Credits, etc

To enter a Schedule K-1 (Form 1041) in TaxSlayer ProWeb, from the Main Menu of the Tax Return (Form 1040) select:

  • Federal Section
  • Income Menu
  • Other Income
  • K-1 Earnings
  • Begin next to Schedule K-1 (Form 1041).

The Form 1041 K-1 Edit Screen has two sections; 

  • Part I - Information About the Estate/Trust
  • Part III - Beneficiary's Share of Income, Deductions, Credits, etc. 

Part I - Information About the Estate/Trust 

  • Estate/Trust Belongs To - Select either the Taxpayer or the Spouse. If filing single, the program will default to the taxpayer.
  • Estate/Trust Name, EIN, and Address

Part II - Beneficiary's Share of Income, Deductions, Credits, etc

For detailed information about Beneficiary's Share of Income click here.

For detailed information about Beneficiary's Share of Deductions and Credits click here.

NOTE: This is a guide on entering the Deduction items from Schedule K-1 (Form 1041) into the TaxSlayer ProWeb program. This is not intended as tax advice.

Additional Information:

Instructions for Schedule K-1 (1041) for a Beneficiary Filing a Form 1040

ProWeb - Form 1040 - Schedule K-1 (Form 1041) Overview