Comment
10-30-2023
11:33 AM
10-30-2023
11:33 AM
With ProSeries, there is an "Interest Income Worksheet" where you can subtract out "Nominee Distributions." ProConnect should have something similar. Just use that. Those 1041 instructions were written before the days of e-filing. No one at IRS is going to see what is entered on Schedule B unless the return is kicked out next year for audit, and at that point even IRS examiners are smart enough to figure out it's the rest of the year for a decedent. (In your example, Schedule B isn't even going to be filed because interest is less than $1,500.)