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Schedule K-1 (Form 1041) Boxes and Codes Explained

Updated September 29, 2026. Quick answer: Schedule K-1 (Form 1041) is the form an estate or trust sends a beneficiary to report the beneficiary’s share of its income, deductions and credits. It is information for your return, not a bill. The table lists every box and code with the IRS heading and the page that explains it.

Partnership K-1s use different boxes: Schedule K-1 (Form 1065) Boxes and Codes Explained.

Every box and code on the K-1

Box or codeIRS heading or form labelExplained on
Box 1Interest IncomeSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Box 2aOrdinary DividendsSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Box 2bQualified DividendsSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Boxes 3 and 4aNet Short-Term and Net Long-Term Capital GainSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Boxes 4b and 4cRate Gain and Unrecaptured Section 1250 GainSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Box 5Other Portfolio and Nonbusiness IncomeSchedule K-1 (Form 1041) Boxes 1 to 5: Income Boxes
Boxes 6 through 8Ordinary Business Income, Net Rental Real Estate Income, and Other Rental IncomeSchedule K-1 (Form 1041) Boxes 6 to 9: Business and Rental
Box 9Directly Apportioned DeductionsSchedule K-1 (Form 1041) Boxes 6 to 9: Business and Rental
Box 10Estate Tax Deduction (Including Certain Generation-Skipping Transfer Taxes)Schedule K-1 (Form 1041) Box 10: Estate Tax Deduction
Box 11, Code AExcess Deductions on Termination, Section 67(e) ExpensesSchedule K-1 Box 11 Code A: Excess Deductions 67(e)
Box 11, Code BExcess Deductions on Termination, Non-Miscellaneous Itemized DeductionsSchedule K-1 Box 11 Code B: Itemized Excess Deductions
Box 11, Codes C and DUnused Capital Loss CarryoverSchedule K-1 Box 11 Codes C and D: Capital Loss Carryover
Box 11, Codes E and FNOL CarryoverSchedule K-1 Box 11 Codes E and F: NOL Carryover
Box 12Alternative Minimum Tax ItemsSchedule K-1 (Form 1041) Box 12: Alternative Minimum Tax
Box 13Credits and Credit RecaptureSchedule K-1 (Form 1041) Box 13: Every Credit Code
Box 13, Code ACredit for estimated taxesSchedule K-1 Box 13 Codes A and B: Estimated Tax Credit
Box 13, Code BCredit for backup withholdingSchedule K-1 Box 13 Codes A and B: Estimated Tax Credit
Box 14, Code ATax-exempt interestSchedule K-1 Box 14 Codes A, B, E and G Explained
Box 14, Code BForeign taxesSchedule K-1 Box 14 Codes A, B, E and G Explained
Box 14, Code CQualified rehabilitation expendituresSchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code DBasis of energy propertySchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code ENet investment incomeSchedule K-1 Box 14 Codes A, B, E and G Explained
Box 14, Code FGross farm and fishing incomeSchedule K-1 Box 14 Code F and Code ZZ: Other Information
Box 14, Code GForeign trading gross receipts (Section 942(a))Schedule K-1 Box 14 Codes A, B, E and G Explained
Box 14, Code HNet investment income taxSchedule K-1 Box 14 Code H: Net Investment Income Tax
Box 14, Code ISection 199A informationSchedule K-1 Box 14 Code I: Section 199A Information
Box 14, Code JQualifying advanced coal project property and qualifying gasification project propertySchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code KQualifying advanced energy project propertySchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code LAdvanced manufacturing investment propertySchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code MClean electricity investment creditSchedule K-1 Box 14 Codes C, D, J, K, L, M: Form 3468
Box 14, Code ZZOther informationSchedule K-1 Box 14 Code F and Code ZZ: Other Information

Codes, and where to read them

The instructions read here are the 2025 edition of the IRS Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR (Catalog Number 11374Z, dated March 13, 2025), the edition served at the IRS standing PDF address when read on September 29, 2026. They are written for the beneficiary; the fiduciary’s own instructions are in the Instructions for Form 1041. The form’s page 2 says of its own code list: “This list identifies the codes used on Schedule K-1 for beneficiaries and provides summarized reporting information for beneficiaries who file Form 1040 or 1040-SR.”

What the form does and does not do

The IRS instruction for the beneficiary begins: “Use Schedule K-1 to report a beneficiary’s share of the estate’s or trust’s income, credits, deductions, etc., on your Form 1040 or 1040-SR.” “Keep it for your records.” Whether you owe anything depends on your return. CMG’s Schedule K-1 for estates page covers what a K-1 from an estate reports and the rules on correcting it.

Edition and history

The instructions read here are the 2025 edition of the IRS Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR (Catalog Number 11374Z, dated March 13, 2025), the edition served at the IRS standing PDF address when read on September 29, 2026. They are written for the beneficiary; the fiduciary’s own instructions are in the Instructions for Form 1041. The instruction file is a single edition with no year-by-year history of the boxes, so this page has no history table. The 2025 form’s Box 11 heading is Final year deductions, and the Final K-1 box at the top of the form marks the beneficiary’s last year: the instructions say “If the “Final K-1” box at the top of Schedule K-1 is checked, this is the final return for the beneficiary.”

Sources

Source: the IRS instructions for the beneficiary who receives Schedule K-1 (Form 1041), and the form’s own code list, read at irs.gov on September 29, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the estate’s or trust’s fiduciary or the IRS is the right place to confirm anything consequential.