Custom paragraphs (1041)

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The following table provides a summary of each custom paragraph. To view the complete contents of custom paragraphs in UltraTax CS, see Customizing client documents: custom paragraphs.

No. Description Paragraph summary
1 AMT Invest Interest CO (TL) Reports the amount of investment interest expense for alternative minimum tax purposes available to the following year.
2 AMT Credit CO (TL) Reports the amount of alternative minimum tax credit available to the following year.
3 Certified Mail (TL) Certified mail with postmarked receipts is recommended for timely filing.
4 Extension Amounts (TL) Extension amounts are estimates of tax liability.
5 Foreign Tax Credit CO (TL) Reports the amount of foreign tax credit available to the following year.
6 Form 1041-A Charitable CO (TL) Reports the amount of principal distributed in prior tax years for charitable purposes.
7 Credit Card Payment (FI) Information on how to pay balance due with a credit card.
8 Private Delivery Services (TL) Information on how to send a return using a private delivery service.
9 Verify Bank Information Ext (TL) Verify bank account and routing number and the account type for electronic funds withdrawals for the balance due with extension.
10 Verify Bank Information (TL) Verify bank account and routing number and the account type for electronic funds withdrawal for the balance due with the return.
11 General Business Credit CO (TL) Reports the amount of general business credit available to the following year.
12 Investment Interest CO (TL) Reports the amount of investment interest expense available to the following year.
13 Long-Term Cap Loss CO (TL) Reports the amount of long-term capital loss available to the following year.
14 Mailing Envelope (TL) Enclosed are pre-addressed envelopes for mailing the return.
15 Penalties (FI) Penalties will not be assessed if quarterly estimated tax payments are made.
16 Section 1231 Loss CO (TL) Reports the amount of section 1231 loss available to the following year.
17 Short-Term Cap Loss CO (TL) Reports the amount of short-term capital loss available to the following year.
18 Schedule K-1 (TL) Advises the fiduciary to distribute a Schedule K-1 to each beneficiary.
19 Statement (TL) Enclosed is an invoice for the preparation of the tax return.
20 Unitrust Deficiency (TL) Reports the amount of accrued distribution deficiency available to the following year.
21 Privacy Policy (TL) Privacy of client information.
22 Estimated Tax Pymts (A) (FI) Reminders for estimated tax payments will not be sent.
23 Estimated Tax Pymts (B) (FI) Reminders for estimated tax payments 2, 3, and 4 will be sent prior to the due date.
24 Estimated Tax Pymts (C) (FI) Vouchers for estimated tax payments 2, 3, and 4 will be mailed to the fiduciary prior to the due date.
25 Status of Estimate (FI) Estimated tax payments should be reviewed on a quarterly basis to avoid an underpayment situation.
26 Disclaimer (TL) Any accounting, business, or tax advice contained in this communication is not intended as a formal opinion, nor is it sufficient to avoid tax-related penalties.
27 Unitrust Distribution (TL) Reports the amount of unitrust distribution for the year.
28 IRS Phishing Email (G) Reminder that the IRS does not send out unsolicited email messages that request detailed personal information.
29 Signature Elections (FI) Reminder to sign and date elections attached to the return.
30 Electronic Funds Withdrawal (TL) Information on how to revoke an electronic funds withdrawal payment.
31 1041ES EFTPS Payments (FI) Information on how to pay estimates using the Electronic Federal Tax Payment System (EFTPS).
32 Total Next Year Est Tax Payment (FI) Reports the total amount of next year estimate payment, including amount applied.
33 Schedule K-1 Instructions (TL) Information on how to obtain taxing authority instructions because the instructions are not included with Schedule K-1.
34 Tax Return History Report (TL) A Tax Return History Report is included with your tax return.

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