acitrola
Level 2
‎04-07-2025 06:55 PM

I am preparing an initial 1041 for a Family Trust.

The income is reported on Form 1099-R, along with Federal income tax withheld (box 4).

Question:

1) can the Federal income tax withheld be allocated to the beneficiaries?

2) if so, how is the allocation accomplished within the Proseries 1041 return?

Thank you for reading this!!

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BobKamman
Level 15
‎04-07-2025 07:00 PM

Is this a grantor trust, where everything should be entered on the grantor's return?

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acitrola
Level 2
‎04-07-2025 07:12 PM

Sorry, I forgot to add it is the first year for a "Family Trust"

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BobKamman
Level 15
‎04-07-2025 07:51 PM

First year you are doing trust tax returns, also?  "Family Trust" means nothing.  If it's the typical Revocable Living Trust, it's a grantor trust.  Read up on those in the 1041 instructions.  

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Just-Lisa-Now-
Level 15
Level 15
‎04-08-2025 07:00 AM

The trust EIN is on the 1099R or is it an SSN? 


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