1041-US: Allocating less than 100 percent of income on a final return (FAQ)

Show expandable text

New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I allocate less than 100 percent of income to beneficiaries on a final return?

Answer

In the year of termination of an estate or trust, all income and corpus is distributed to beneficiaries. To force a distribution of less than 100 percent, enter the distribution amount in the Income required to be distributed (Force) field on Screen Dist in the Allocation folder. To not allocate any income to beneficiaries, enter X in the Allocate no income or excess deductions to beneficiaries on final return field on Screen Allocate in the Allocation folder.

Related topic: 1041-US: Beneficiary allocations FAQs

Was this article helpful?

Thank you for the feedback!