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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- allocating withholding to beneficiary on final 1041
allocating withholding to beneficiary on final 1041
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Saniam29
Level 2
02-28-2022
05:31 PM
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IRA -1099-R with tax withholding; IRA proceeds distributed to beneficiaries; final 1041 - The beneficiaries received the IRD, it is the final year, and the withholding needs to be allocated to them. Research tells me to enter the withholding in the pension section, then go to screen 38.2 and enter the withholding as a negative number, then go to Screen 43 and enter each beneficiary's share of the withholding in "Credit for back-up withholding".
The issue is that I cannot enter a negative number in Sreen 38.2. Has anyone dealt with this?
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