dlj72
Level 1
01-06-2023
01:13 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How do I allocate capital gains to the beneficiaries and include in DNI? I want it to show up in Schedule D, Line 18a, column 1.
Labels
BobKamman
Level 15
01-06-2023
01:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
First make sure the trust allows that. The default is usually allocation to the trust -- and unlike ordinary income, that often does not result in a higher amount of tax owed.
I don't have the program open right now but there's a place on the 1041 Schedule D input page for switching allocation to beneficiaries, if that's what the law requires.
IRonMaN
Level 15
01-06-2023
03:31 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Anytime I see something that says -1 equals zero, I know I'm not in ProSeries anymore Toto.
Slava Ukraini!