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

The deceased original owner of the account died on or after the required beginning date, and my client is one of multiple beneficiaries but not the oldest beneficiary. How can I calculate the correct required minimum distribution for my client?

Answer

UltraTax CS/1040 uses the date of birth for the taxpayer/spouse as entered on the 1040 screen to compute ages used on Lines 8 and 12 of the Worksheet for Beneficiaries. Entering data on the Beneficiary birth year (Force) field on the 1099R-3 screen will override this default treatment and compute ages used on Lines 8 or 12 based on the year input.

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