Generating Form 1041-T in ProSeries

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.