Fiduciary / 1041
Features, Forms and Schedules
Features
Customizable fiduciary and beneficiary transmittal letters
Easy allocation of amounts to beneficiaries
16 pre-defined IRC elections
Support for up to 1,000 beneficiaries
Depreciation reports by activity
Five-Year Tax History. Import assets from ProSeries/Fixed Asset Manager (sold separately)
Import trial balance information from popular accounting packages
How-to guide in Help offers advice on preparing a return using the program
Integrated state business software is also available.
In-Depth Calculations
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Tentative trust accounting income calculated automatically.
Easy allocation of deductions to taxable and tax-exempt income
Handles tier-1 and tier-2 distribution, and automatically computes
beneficiary allocation percentages
Passive activities
Supports grantor trusts with unlimited grantor letters
NOL and AMT NOL worksheets track net operating losses
Foreign Tax Credit and AMT Foreign Tax Credits
Forms
Form 1041, U.S. Income Tax Return for Estates and Trusts
Form 1041-A, U.S. Information Return Trust Accumulation of Charitable Amounts
Form 1041-ES, Estimated Income Tax for Estates and Trusts
Form 1041-T, Allocation of ES Tax Payments to Beneficiaries
Form 56, Notice Concerning Fiduciary Relationship
Form 1116, Foreign Tax Credit
Form 1116-AMT Form 2210, Underpayment of Estimated Tax
Form 2848, Power of Attorney
Form 3115, Change in Accounting Method
Form 3800, General Business Credit
Form 4136, Credit for Federal Tax Paid on Fuels
Form 4255, Recapture of Investment Credit
Form 4562, Depreciation and Amortization
Form 4684, Casualties and Thefts
Form 4797, Sales of Business Property
Form 4835, Farm Rental Income and Expenses
Form 4952, Investment Interest Expense Deduction
Form 6252, Installment Sale Income
Form 7004, Application for Automatic Extension of Time to File
Form 8271, Investor Reporting of Tax Shelter Registration Number
Form 8582, Passive Activity Loss Limitations
Form 8594, Asset Acquisition Statement
Form 8801, Credit for Prior Year Minimum Tax
Form 8821, Tax Information Authorization
Form 8822, Change of Address
Form 8824, Like-Kind Exchanges
Form 8855, Qualified Revocable Trust as Part of an Estate
Form 8868, Application Extension Exempt Organization Return
Form 8903, Domestic Production Activities Deduction
Form 8913, Credit for Federal Telephone Excise Tax Paid
Form SS-4, Application for Employer ID Number
Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts
Form W-7P
Schedules
Schedule C (1040), Profit or Loss from Business
Schedule D, Capital Gains and Losses
Schedule E (1040), Supplemental Income and Loss
Schedule F (1040), Profit or Loss from Farming
Schedule J, Accumulation Distribution for a Complex Trust
Schedule J Additional Part IV Statement
Schedule K-1, Beneficiary's Share of Income, Deductions, Credits, etc.
Each program also contains many supporting worksheets, reconciliation summaries, and
analytical comparisons.
Forms and schedules are subject to change.