How to allocate trust capital gain on a trustee return (form 1041) in a year that there are distributions to beneficiaries.
"How to allocate trust capital gain on a trustee return.....in a year that there are distributions to beneficiaries."
If the trust instrument and local law allow you to allocate capital gain to the beneficiaries, then the allocation, using TurboTax Business, is done as shown in the screenshots below.
Further, do not forget to make an actual distribution in the Distributions section of the program.
How to allocate trust capital gain on a trustee return (form 1041) in a year that there are distributions to beneficiaries.
"How to allocate trust capital gain on a trustee return.....in a year that there are distributions to beneficiaries."
If the trust instrument and local law allow you to allocate capital gain to the beneficiaries, then the allocation, using TurboTax Business, is done as shown in the screenshots below.
Further, do not forget to make an actual distribution in the Distributions section of the program.
How to allocate trust capital gain on a trustee return (form 1041) in a year that there are distributions to beneficiaries.
Screenshot of the distribution section appears below.
v
Privacy Settings
We provide you with a way to opt-out of advertising activities on our websites
We leverage outside service providers who assist us with our marketing and advertising activities. Note: by opting-out of this tracking, you may still see Intuit advertisements, but they may not be tailored to your interests.
Privacy Settings
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Sign In
