2018 UltraTax CS
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Question
For a final return, can I allocate all income except capital gains to beneficiaries?
Answer
No. When you enter data in the Income required to be distributed (Force) field on Screen Dist in the Allocation folder, income will be allocated to beneficiaries in the following order: tax-exempt income until exhausted, capital gains until exhausted, and then all other income proportionally.
Related topic: 1041-US: Beneficiary allocations FAQs
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