1041-US: Suppressing allocation of a share of indirect expense to income that is exempt from federal and state tax (FAQ)

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Question

How do I suppress allocation a share of indirect expense to income that is exempt from both federal and state taxation?

Answer

Indirect expenses automatically allocate to nontaxable income on the Allocation of Expenses by Income Type Worksheets. Enter X in the Nontaxable income field in the Exclude Indirect Expense section on Screen Allocate in the Allocation folder to suppress this allocation.

Related topic: 1041-US: Tax-exempt income FAQs

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