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Foreign address 1041 module

ra2
Level 1
On the 1041 module, how do you input a foreign address on the Client Info screen?
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2 Comments 2
joshuabarksatlcs
Level 10

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.  

 


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Robert Ades
Level 2

Does IRC 7701 for a US citizen living abroad?

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