Adjusted Total Income from 1041, Line 17 = $0
Allowable Excess Deductions on Termination = ($8,412)
Less: Portion Attributable to Section 64(e) Expenses = $3,950
Allowable Excess Deductions - Code B = ($4,462)
Beneficiary's Portion = $744
Difficult to answer without knowing what software you are using:
Lacerte?
ProSeries?
PTO?
Turbo Tax - Very simple return with only 2 W-2's No other deductions; taking standard deduction.
Hi there,You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.
"You’ve come to an Intuit site supporting tax professionals"
At least that's what Intuit tells us 😜
LOL, Jeff.
Maybe I'll update that wording the next time I use the Macro.
