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.

Spouse, Beneficiary, Executor, Representative Information

Individual name

Enter first name and then last name. For data sharing purposes, do not include an honorific, e.g. Miss, Mr., Dr. etc. Information will automatically fill the preparer’s SSN, address information, and the PTIN fields when you select them using the drop-down list.

Executor: Type

If this is an executor, enter the code that describes whether this is the executor or one of multiple executors signing the return. If you identify many executors on the 706 return, only the executor for whom you selected 1 will appear. The Multiple Executor Worksheet that prints with Forms 706, 706-NA, and 4768 lists the remaining executors.

Title

If you leave this field blank the default title is Executor.

Authorization, engagement and/or consent

Leaving the type field blank if this is an executor will disable this field.

E-mail address for eSignature

Leaving the type field blank if this is an executor will disable this field.

Additional Beneficiary Information

Letter and Slipsheet from Executor

Enter X to generate a transmittal letter and slipsheet from the executor to the beneficiary.

Salutation

The name you enter in this field will appear on the transmittal letter that UltraTax CS will generate with Form 8971, Schedule A. You don’t need to enter Dear because the program will automatically add a salutation. If you choose to leave this field blank, transmittal letter will default to Dear Beneficiary.

Schedule E, co-tenant letter

If an individual other than the surviving spouse owned joint property with the decedent, enter a letter, beginning with A, to identify the co-tenant on Schedule E, Part 2.

Trust beneficiary receiving QTIP property

Enter X to designate a Trust beneficiary as receiving QTIP property. This allows for an asset to be allocated to a Trust and the value of the asset to report on Schedule M. To render this field enterable select T in the Entity type field.

Percentage of: Residual estate

The amount you enter in the Specific amount received field is added to the percentage of residual estate calculated and any specific bequests before printing the total for each beneficiary on Form 706, Part 4. If you are allocating a percentage of the residual estate and the residual estate available to beneficiaries is zero, then only the amounts entered in the Specific amount received field and any specific bequests print on Form 706, Part 4.

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