ra2
Level 1
12-09-2021
12:23 PM
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On the 1041 module, how do you input a foreign address on the Client Info screen?
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joshuabarksatlc
Level 10
12-09-2021
04:29 PM
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I don't think Lacerte Form 1041 allows the input of a foreign address for the fiduciary.
Check out Section 7701 and particularly Regs Section 301.7701-7. If the foreign trustee is the only trustee, the trust would likely fail the tests under §7701 and be classified as a foreign trust, which has tax consequences as well as reporting requirements that would otherwise not be applicable to domestic trusts.
I come here for kudos and IRonMaN's jokes.
Robert Ades
Level 2
12-09-2021
04:34 PM
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Does IRC 7701 for a US citizen living abroad?
