Original 100% beneficiary dies mid-year and all income up to death should be assigned to that bene (trust required mandatory monthly distributions of income). After death, assets are distributed to the remainder beneficiaries, and so the after-death income should be divided among remainder beneficiaries.
How do I assign specific pre-death income to the deceased beneficiary and after-death income to the remainder beneficiaries?
Thank you!
Best Answer Click here
Lots of overrides.
Work out the correct numbers on a spreadsheet.
Maybe you can get a % to enter in the software that will give the correct K-1 amounts.
Lots of overrides.
Work out the correct numbers on a spreadsheet.
Maybe you can get a % to enter in the software that will give the correct K-1 amounts.
Ouch!
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.