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Question
Why does an exemption print on a final return?
Answer
The exemption prints on the form because the instructions for Form 1041 do not specify whether a personal exemption should be shown on a final return. If you do not want to print an exemption amount on Form 1041, enter 0 (zero) in the Exemption (Force) field on Screen Deduct in the Deductions folder. Either way, the exemption does not affect the return or the numbers on Schedule K-1.
Related topic: 1041-US: Final return of Form 1041 FAQs
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