K-1 Issue Me or ATX

[GraceNY]

1041 K-1, Box 11 Code "C" (Short term capital loss carryover): $ 5,191.  I entered it on the K-1 (1041) in ATX software but it did not flow to the Schedule D, Line 5.

Before I override it and e-file, I need to know if I did something wrong or is it an ATX software issue.

BTW Interest and Dividends from K-1 flowed correctly to the tax return.

Thanks in advance for any feedback.

Grace

[Lee B]

Instructions for K-1 Form 1041:

"Box 11, Codes C and D—Unused Capital Loss Carryover

Upon termination of the trust or decedent’s estate, the beneficiary succeeding to the property is allowed to deduct any unused capital loss carryover under section 1212.

A short-term capital loss carryover, reported as code C, is reported on Schedule D (Form 1040), line 5."

[jklcpa]

I don't use ATX anymore, but one thing I can think of, if this isn't a programming error, is that the K-1 should be marked "final" and that the input should as well. 

[BulldogTom]

21 minutes ago, jklcpa said:

I don't use ATX anymore, but one thing I can think of, if this isn't a programming error, is that the K-1 should be marked "final" and that the input should as well. 

Damn she is smart.   

Tom
Longview, TX

[GraceNY]

Thank you cbslee.  It's not flowing to the Schedule D, Line 5.  I had to override it.

Thank you jklcpa.  Yes, the K-1 is marked "final.' And, I marked the K-1 "final' in the ATX K-1 input screen.  It's not flowing to Schedule D, Line 5.  It's got to be a programming error.  I will contact Support. 

Every year I have some issue with this software.  No wonder it takes me so long to prepare a return.  Have to check every line of the tax return.  Hopefully I won't have to start checking the math!  

A colleague introduced me to ATX.  I think 2004? First year I used the software the educator expense deduction wasn't carrying to NY return.  I called her about it.  They were not aware of it.  Had to amend some of their returns.

I know the software is just a tool and it's not a substitute for a professional's knowledge.....

Grace