Choose to not allocate amounts to beneficiaries (1041)

The following scenarios include information on how to not allocate amounts to beneficiaries.

First verify that allocations have not been entered. 

If this is not a final return and there is a default allocation (simple trust or qualified subchapter S trust), do the following:

  1. Open the Dist screen in the Allocation folder.
  2. Enter 0 (zero) in the Income required to be distributed (Force) field.

If this a final return, do the following:

  1. Open the Allocate screen in the Allocate folder.
  2. In the Beneficiary Allocation Options section, enter X in the Allocate no income or excess deductions to beneficiaries on final return field.

If this is a complex trust or decedent's estate and not a final return, you do not need to enter any additional information because the default is no allocation.

Note: If there is no allocation, Onvio Tax displays "NO TAXABLE INCOME" on a Schedule K-1 for each beneficiary unless you suppress the generation of the Schedule K-1.


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