Generally, a trust or estate is required to prepare and provide a Schedule K-1 to each beneficiary who receives a distribution of property or an allocation of an item of the estate or trust. If required, these Schedule K-1’s must be provided to each beneficiary on or before the day on which the estate or trust return is required to be filed. In TaxAct, the K-1 Wizard and Distribution sections are the Federal Q&A are designed to gather required beneficiary information for the tax return.

When filling the return, TaxAct will only print the Schedule K-1’s for each beneficiary if required.  If you would like TaxAct to always print the Schedule (even if not required), follow the directions below:

1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal.
2. Click Miscellaneous Topics  in the Federal Quick Q&A Topics menu to expand the category, then click Print Schedules K-1
3. Check the box Print Schedule K-1 copies with the estate or trust’s return