How to I allocate capital gains to income in a trust (1041)? My goal is to have all taxes paid by the beneficiaries.

[bhorcher]

How do I allocate capital gains to income in a trust (1041)? My goal is to have all taxes paid by the beneficiaries. And, yes, the trust allows me to do this.  I have seen answers from previous years that reference screenshots that are no longer available.  I would appreciate screenshots for Business 2024 if possible.

thanks!!

[PatriciaV]

To allocate capital gains to the beneficiaries, to go Federal Taxes >> Income >> Investment Income >> Allocation of Capital Gains (Loss).

On the page "Allocation of Long-Term Gain," enter the total long-term gain to be allocated and other gains as listed.

On the next page, enter the Capital Gains that are attributable to Income if different from the previous page.

Note that you should also complete the interview under Distributions to allocate by percentage or amount.