IRS instructions indicate that the pre and post death activity should be reported on the same 1041 with both the grantor trust and complex trust boxes checked. Need the pre-death activity to go to a grantor letter. Need the post death activity to report as a complex trust. A prior response in this forum indicated two short year 1041s are needed but I don't think this is correct. Can Lacerte accommodate both a grantor and complex trust on the same 1041? If so, I can't figure out how to do it. Any guidance?
I only have one tax id for the trust and the full year activity from the broker was reported under this tax id on a 1099. Trust has filed as a grantor trust in prior years. If I have to do two short year returns do I mark the grantor trust final and the complex trust as initial? Since I'll be using the same tax id for both I assume I will have to paper file one of the tax returns?
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If it were me doing it, I'd use two Lacerte files, and attach a PDF of the grantor letter (generated out of one file) to the complex trust 1041 (generated out of the other) before e-filing. There may be a more elegant way to do that in Lacerte, but an expeditious workaround is sometimes the best you get.
If it were me doing it, I'd use two Lacerte files, and attach a PDF of the grantor letter (generated out of one file) to the complex trust 1041 (generated out of the other) before e-filing. There may be a more elegant way to do that in Lacerte, but an expeditious workaround is sometimes the best you get.
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