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Reporting federal and state tax refunds in the Fiduciary module in Lacerte

SOLVEDby Intuit3Updated July 21, 2023

To report federal and state tax refunds:

  1. Go to Screen 18, Tax Refunds.
  2. Enter the State tax refund.
  3. Enter the Federal income tax refund.
    • State tax refunds received from the prior year are to be included on line 8 of the Form 1041 and excluded from the state return. 
    • Federal Income Tax Refunds received during the tax year are considered in the determination of trust accounting income but ignored in the determination of taxable income.

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