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 not allocate excess deductions to beneficiaries in the final year of an estate or trust?
Answer
To not allocate the excess deductions to any beneficiary in the final year, 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
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