Common questions about fiduciary pensions - IRA and W-2G in ProConnect Tax

Below are solutions to frequently asked questions about entering Form 1099-R or Form W-2G in the Fiduciary return in ProConnect Tax.

How do I enter Form 1099-R in the Fiduciary module?

1. From the Input Return tab, go to Income ⮕ Pensions, IRA, W-2G.
2. Scroll down to the Pensions, IRA Distributions, W-2G input section.
3. Enter these required inputs:
   • Name of payer
   • Street address
   • City
   • State
   • Zip Code
   • Federal Identification number
   • Phone
4. Scroll back up to the top of this input screen and enter a 1 in 1=IRA/SEP/SIMPLE, 2=W-2G.
5. Make an entry in Gross distribution (gross winnings, if W-2G).
6. Make an input in Taxable amount (2a or other computation).
7. Input an amount in Federal income tax withheld.
8. Use the Distribution code #1 (Click on arrow to select from list) drop down input to select the distribution code for this distribution.
9. Enter any other applicable information in this screen as reported on the 1099-R.

Where do I enter tax withholding on a pension?

1. From the Input Return tab, go to Income ⮕ Pensions, IRA, W-2G.
2. Enter a 1 in {}1=IRA/SEP/SIMPLE, 2=W-2G.
3. Enter the amount in Federal income tax withheld.
   • This amount flows to Form 1041 Schedule G part II line 14.

If you want to treat this amount as distributable to beneficiaries:

1. From the Input Return tab, go to Sch. K-1 ⮕ Schedule K-1 Overrides/Misc ⮕ Federal.
2. Scroll down to the Credits and Credit Recapture (13) section.
3. Enter the beneficiary's share of the withholding in Credit for backup withholding (B).
4. Repeat these steps for each beneficiary.