Allocate amounts equally among first tier beneficiaries (1041)
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Hide expandable textComplete these steps to allocate amounts equally among first tier beneficiaries.
- Click the Allocation folder in the Data Entry tab to open the Allocate screen.
- Enter X in the First tier beneficiaries: Allocate all items, except capital gains, equally field. If capital gains should also be allocated equally, enter X in the First tier beneficiaries: Allocate capital gains equally field.
Notes
- You don't need to complete these fields if this is a simple trust, grantor trust, agency relationship, or final return because the default is equal allocation.
- To exclude a beneficiary from this calculation, click the Beneficiaries tab, and then click Edit for the beneficiary you wish to exclude. Click the Federal Tab and enter X in the Exclude from equal allocation field.
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