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How to resolve Lacerte diagnostic ref. 2551 - This is a final return with either short-term or long-term capital
by Intuit• Updated 1 year ago
When preparing the final return for a Fiduciary, you may encounter the following diagnostic:
- This is a final return with either short-term or long-term capital loss carryover that has not been allocated to any remainderman. To properly distribute these items, make entries in 'Short-Term' or 'Long-term' columns for 'Other (Schedule B, Line 10)' on screen 7.1 Distribution Percentages. (ref. #25551)
To resolve this diagnostic:
- Go to Screen 7, 1041 Distributions.
- Click on Dollar Distributions on the left navigation panel.
- Remove all Amounts from this screen if applicable.
- Click on Distribution Percentages on the left navigation panel.
- Remove all percentages from the Required (Schedule B, line 9) subsection if applicable
- Enter all percentages in the Other (Schedule B, line 10) subsection.
- Final Fiduciary returns always use the Other (Schedule B, line 10) subsection.
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