TaxCut Business & Estate Form 1041

Mar 27, 2009 2 Replies

While the program allows estimated tax payments to be allocated to beneficiaries on lines 24a and 24b (there is none in my case), I can't see how to allocate taxes withheld on a Form 1099-R (line 24e) which is what my situation is to the beneficiaries.



When I enter the withheld amount on the K-1 forms, the program still shows the amount to be refunded to the estate though there is zero remaining income and tax liability after taking the income distribution deduction.



TC tech support has not been helpful. Anyone here got an idea?


I believe only estimated tax payments made by the trust can be allocated, withholding in excess of tax due will simply be a refund to the trust.

-Mark Bole

I'm sorry, my post was incomplete.

I neglected to say that this is a decedent's estate and the 1099-R was for the taxable portion of the deceased's annuity that the estate collected..

I thought that in this case, I can allocate both the estate income and the withholding to the beneficiaries. Am I wrong about that?

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