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detaylorcpa
Level 3
February 16, 2021
Question

capital gains final trust return

  • February 16, 2021
  • 4 replies
  • 14 views

Can you override the capital gain distribution on a final form 1041? The trustee wants them taxed in the trust and not passed through to beneficiaries. I have critical diagnostics (#25547 and #25538). Will these preclude me from efiling the return? or can they be by-passed or overriden?

 

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4 replies

S
strongsilence
Level 10
February 16, 2021

I hope this helps you.

 

Solved: Trust Capital Gains taxation - Intuit Accountants Community

BobKamman
BobKamman
Level 15
February 17, 2021

No.  But is it really a final return?  If all the funds have been distributed, how are you getting paid?

    P
    pat11
    Level 5
    February 17, 2021

    For the tax on gains: What does the trust document say? Did you review screen 43? 

    I am not familiar with the error codes. You can try the e-file validation option under print to see if it will e-file.

    D
    dd11
    Level 3
    January 28, 2022

    Did you get an answer on this? Were you able to efile?

    I'm in the same situation.

    D
    detaylorcpaAuthor
    Level 3
    January 28, 2022

    I believe I was able to efile them - the critical diag's did not prevent me from efiling the return.

      D
      dd11
      Level 3
      January 29, 2022

      Thank you

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