Drake Tax - 1041: Foreign Taxes Paid or Accrued

Article #: 13365

Last Updated: October 21, 2024

 


Tags: Drake Tax K1

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How to enter foreign tax taxes paid or accrued to the beneficiary in the 1041

Use the K14B screen to allocate foreign taxes paid or accrued to the beneficiary. Amounts allocated on this screen will be based on the percentages or line 14b overrides entered on screen K1. A statement will be generated for each K-1, line 14b.

Caution  Do not duplicate K14B screen entries on the 1116, INT, or DIV screens.