box 2e and 2f from 1099 where to enter info on form 1041

[George4Tacks]

What flavor of 1099 are you enjoying when you ask this question? 

[gso]

1099 from Brokerage account for a Trust

[George4Tacks]

1099-INT?

1099-DIV?

1099-B?

Ask full and complete questions to get a good answer. Have you looked at the footnotes for the 1099 that explains what each of the entries is? That will generally get you where you should be quicker than asking here. 

[gso]

1099-DIV

Proseries goes from a to d on the worksheet.  no 2e or 2f on 1099-DIV

[George4Tacks]

When you started this you selected ProConnect Tax, which is an online program. You should have selected ProSeries.

I would suggest you start again by selecting ProSeries and asking the question again. 

I believe that these two lines are unlikely to be needed on the return. Here is the code section that they apply to:

https://www.law.cornell.edu/uscode/text/26/897

[pitstax]

What a bunch of snotty responses.   This is why I seldom ask questions.  I think anyone who knows anything about taxes would have been able to see immediately that this poor person was dealing with a Form 1099-DIV and no matter what the product, no one answered the question!  Shame on you people.  I have the same question and cannot find an answer anywhere but it is my guess that the brokers are using this field whether or not the recipient is a U.S. individual or not - even though everything I have read indicates a U.S. individual can ignore it.  However, it is not clear to me what a U.S. fiduciary is supposed to do with this reported amount.

[qbteachmt]

"What a bunch of snotty responses."

Other than, too vague and wrong program, sure.

"no matter what the product, no one answered the question!"

Uh, "where to enter" is pretty dependent on what is being used and what needs to be entered.

"I have the same question and cannot find an answer anywhere"

There is a resource provided, so the person can learn which and if data needs to be included. And they are directed to the right audience. This is not Customer Support. It's peer users. Not everyone knows everything about every program.

"but it is my guess that the brokers are using this field"

Which of the Two fields is "this" field?

"whether or not the recipient is a U.S. individual or not - even though everything I have read indicates a U.S. individual can ignore it. However, it is not clear to me what a U.S. fiduciary is supposed to do with this reported amount."

Cornell is a great resource, as is the IRS.

You always get a better and more direct answer when you make a topic in the forum section for the Program you are using, and use the Title to put the topic, and then the Input panel is where you provide the details that matter. It also helps you to help yourself by participating with the volunteers that ask follow up questions, because no one but you is looking at that paperwork, that screen, that form, and none of us have perfected our mindreading skills. Yet.

[pitstax]

Anyone who is making an honest attempt to help could figure out what is being asked.  Your latest response just reinforces my earlier comments.  I suppose if someone was incapacitated and handed you a note that said "Help me, I'm dieing" - you'd probably ask them to correct the spelling...  Give me a break.  Get off your self-righteous high horse.

OK where would YOU enter the information that is provided on Form 1099-DIV Box 2e or 2f into your Lacerte 2021 individual software program?  Does it need to be entered at all or can it be disregarded? Same question for the 2021 fiduciary program.

[George4Tacks]

I did answer the question

"I believe that these two lines are unlikely to be needed on the return. Here is the code section that they apply to:

https://www.law.cornell.edu/uscode/text/26/897"

I do not think any of my answers contained any mucus. 

I would like to rephrase your opening remark. Anyone who is making an honest attempt to help could ask a question should expect others to figure out what is being asked.

Answers are easy. Questions seem to be very difficult. Questions should contain as much information as possible about the circumstances of the return being dealt with, the software being used, the type of return and possibly the state involved.

We are a group of volunteers who try to answer questions. In your 2021 fiduciary program you may do with the boxes in question exactly what I think I will do with your questions in the future. DISREGARD THEM. 

[qbteachmt]

"Does it need to be entered at all or can it be disregarded? Same question for the 2021 fiduciary program."

Did you follow the resources provided?

“If you give a man a fish, he will be hungry tomorrow. If you teach a man to fish, he will be richer forever.”

Translation: Doing your own work helps you learn what applies, and now it is part of your tools to use when required. And that way, we don't have to type out what is readily available to you, already, if you follow the links provided.

[Rick99]

I'm not an accountant either -- and I think the respondents should adult up.

I had the same distressing problem with a 1099-DIV for a 1041.

The answer is (of all places) in 1099-DIV IRS instructions OMB 1545-0110: the essence being that US taxpayers can ignore boxes 2e and 2f.

[lifeisgood]

Thank you! Very helpful. 

https://www.irs.gov/instructions/i1099div 

Answer:  Look under section  Section 897 Gain in instructions

[lansman]

I had the same question and read these dimwits' answers which is why I just shake my head at this profession. I ran across what I think is the answer: Add'l DIVIDEND (just to clarify that), Section F line 9 asks for Section 897 Capital Gains.

[qbteachmt]

"and read these dimwits' answers which is why I just shake my head at this profession"

There's a lot of this going around right now, from both sides of every issue.

Details matter.

Since this is a Software User's community, which program you are using, matters.

How professional is the person, matters, because it seems that anyone can get authorized to prepare taxes, and then they expect their peer community to teach them how to "do taxes" as if it is a form fill in. They don't even know enough to know the program expects the human on the other side of the keyboard to have some understanding. It's like putting a baby in the driver's seat of a car.

And worse, yet, people come here and disparage their peer professionals who volunteer in an online community to help everyone keep things moving, to be part of the solution when program problems are found, or to commiserate with each other when those who make the rules are not on the ball or left something vague and open to interpretation.

However, it gets even worse when you expect these same volunteers to interpret and make assumptions for topics asked, based on inadequate info, or when we provide the answers and even resources and reference links, and then those who seem to care, don't care enough to read the other replies, don't care enough to follow the links to learn their answer can be found in what was provided, and don't help others, other than they think their minor contribution makes them the star of the topic.

"Ask not what your community can do for you – ask what you can do for your community” with apologies to JFK, we should all take that to heart.

[pitstax]

If you go back to the beginning of this thread and follow it through, anyone who is truly interested in assisting their peers and who is experienced at all in this profession and actually is in the trenches preparing returns (if not, please don't volunteer...), could have seen what was being asked without knowing EXACTLY the particulars nor the software version nor anything else and could have provided an answer.  But they chose not to.  I have thirty plus years of experience and have prepared thousands of tax returns and when this topic first arose in preparing 2021 returns I wanted to see what others were doing and how they were handling this item because I had not seen it before.  I wasn't asking anyone to help me "fill in a form."  But yet the main crux of the responses were "let me show you how smart I am" instead of saying something like "doesn't apply to individual returns but looks like it applies to fiduciary returns and here's why I think that."  My conclusion isn't that most of these people are dimwits but it is that they really don't understand the point of a helpful message board - many are more interested in pontificating.

[qbteachmt]

Nice of you to come back one year later to continue to harangue the rest of the folks who tried to help here, who asked for more info, and who have been helping each other, the other 13 months you've been gone. Feel free to stay awhile and help your peers. Then you'll see what is like, making assumptions, or taking the time provide all the possible answers, when the initial question is too vague to know for sure what is the issue. And offering, for instance, cornell or irs resources is because you have the opportunity to help someone help themselves, in their chosen profession, to be better at their jobs. If you just want to spoon feed the answer, you might as well get hired by Intuit as customer service.

[pitstax]

Yes, please do continue to help me get better at my job...  Pontificate some more please.

[qbteachmt]

"please do continue to help me get better at my job"

And please, try helping others. That's the point of "community."

[George4Tacks]

One thing that can help in your professional tax business is to loose the aol email account, if you have one.

[BobKamman]

@George4Tacks  If you mean "lose," you should lose one of those O's.  And I am proud of my AOL email address, because otherwise half my clients would send stuff to the guy with a similar name on gmail.  

I thought this was a very reasonable question last year, and I understood exactly what the OP was asking.  I saw few of these entries on 1099-DIV's last year, most of them from Merrill Lynch, but I am seeing many more this year.  I had to check last year to make sure it was not an additional amount to be reported as dividends, and when all else failed I checked the instructions again this year:

Box 2e. Shows the portion of the amount in box 1a that is section 897 gain
attributable to disposition of U.S. real property interests (USRPI).
Box 2f. Shows the portion of the amount in box 2a that is section 897 gain
attributable to disposition of USRPI.