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.
Identification Information
Estate / trust: Name / Name, continued
The estate or trust name can only contain alpha characters (A-Z), numeric characters (0-9), an ampersand (&), and a hyphen (-). The first character of the estate or trust name must be an alpha character. If the name contains a title or suffix that is a numeric relationship, convert the title or suffix to a Roman numeral. For example, enter Jim Smith 3rd as Jim Smith III.
Estate / trust: Family name for electronic filing name control
If you're electronically filing this return, enter the family name of the estate or trust. This information calculates the name control for the 1041 electronic file . If you leave this field blank and the Name control (Force) field blank on the ELF screen, the IRS will reject the return.
Fiduciary: SSN / EIN
Enter the SSN/EIN here. To see the SSN/EIN on Form 1041, enter X in the Fiduciary: Financial institution field.
Fiduciary: Name/../Telephone number
If there is more than one fiduciary for this return, enter the name and information for the for the fiduciary that is responsible for signing Form 1041. Use the Fiduciary: Joint fiduciary information statement to enter the additional fiduciaries.
Joint fiduciary information
Enter the name and address information for any additional fiduciaries. For Form 1041, a statement generates with the return in accordance with Regulation 1.6012-3(c) and lists the joint fiduciaries with space for signatures, if desired.
Name for facsimile signature
If the fiduciary is sending a separate signature letter with a group of Form 1041 returns, enter the facsimile signature that you want to show in the signature section of Form 1041. Per Revenue Ruling 68-500, this option is not available for any other fiduciary forms that requires a signature.
State of residency
The state you enter in the fiduciary's address will automatically populate here. This information is for state depreciation calculations, state residency calculations, state allocation spreadsheets, and to determine which state to use for state-if-different (SID) Schedule K-1 financial data sharing.
Estate / Trust Information
Type of entity
Simple trust is the default entry for the type of entity, unless you specify another. You can't electronically file an agency trust, bankruptcy estate, pooled income fund, charitable trust, or qualified funeral trust returns.
Bankruptcy estate - tax from Form 1040
Enter the amount of tax calculated on Form 1040 (including the Net Investment Income Tax, if applicable) for the bankruptcy estate. Entering this data prepares Form 1041 only as a transmittal for the bankruptcy estate’s return.
Qualified funeral trust - contract information
The values you enter here allocate the income and calculate the tax on Form 1041-QFT for composite returns (more than one owner).
Split-interest trust type
Enter the split-interest trust type code that represents the type of charitable trust. When preparing a split-interest trust, the Type of entity should be either a complex trust or grantor trust.
Superseding return
Enter X if this is a subsequent return filed before the original due date. A superseding return is considered the original return because it replaces any other return previously filed, either electronically or on paper.
General Information
IRS may discuss return with preparer
If you're electronically filing the return and you complete this field, you must enter a firm phone number in Setup > System Configuration.
Prior year-ends, if different
Use these fields only if your client has ever had or currently has a short tax year and you are calculating depreciation. See Entering prior year ends if different from current year-end for more information.
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