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1041

dlj72
Level 1

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.

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4 Comments 4
BobKamman
Level 15

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

But I was under the impression that you used ProSeries instead of Lacerte 😉


Slava Ukraini!
BobKamman
Level 15

@IRonMaN  Seen one program, seen them all.  But maybe not.  I get the impression Lacerte tries to make things harder because they think their users aren't as smart. 

IRonMaN
Level 15

Anytime I see something that says -1 equals zero, I know I'm not in ProSeries anymore Toto.


Slava Ukraini!
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