ProConnect HelpIntuit HelpIntuit

Generating Form 1041-T in ProSeries

SOLVEDby IntuitUpdated 1 month ago
An Estate can make this election only in the final year of the estate, the form will not generate if it is not the final year.

How do I file?

Attach Form 1041-T to Form 1041 only if you are making the election with Form 1041. Otherwise, file Form 1041-T separately.

To generate Form 1041-T:

  1. Open Form 1041
  2. At the top under line F check the Final return box.
  3. Open the 1041-T.
  4. Enter the date you will be filing this form at the top.
  5. Manually complete Lines 1 and the table for line 2.
  6. Be sure that the amount on line 1 is also included on Form 1041, Page 1, Schedule B line 10.
  7. If you are filing the 1041-T separate from the tax return, you'll need ProSeries to enter the name and address: Open the 1041-1 and check the box at the top for If filing separately, check here to flow Fiduciary name, Address etc.

Other considerations:

  • An estate can make this election only in the final year of the estate.
  • The allocation to the beneficiaries is considered a payment of estimated tax made by the beneficiaries on the last day of the tax year.
  • In order to make the election to allocate estimated tax payments to beneficiaries valid, the Form 1041-T must be filed by the 65th day after the close of the tax year. The program will determine if the day has past based on the computer date and generate a critical diagnostic warning.

Was this helpful?

You must sign in to vote, reply, or post
ProSeries Basic

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

More like this

Dynamic AdsDynamic Ads