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Inherited IRA Income Tax Withholding on a Trust's Form 1041
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JessSBFP
Level 2
04-03-2025
07:40 PM
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On the 1041, I am entering withholding from a 1099-R distribution from an inherited IRA that was made to the trust. The beneficiary of the trust will receive a K-1 for the income.
On the 1041, I reported the withholding on Schedule G line 14 federal income tax withheld.
I understand that I cannot pass the withholding on to the beneficiary via the K-1; however, my understanding is that I can reduce the distributable net income (DNI) by the amount of the withholding. Where in ProSeries would I enter the withholding to offset the DNI?
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BobKamman
Level 15
04-03-2025
09:15 PM
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Form 1041, Page 2, Schedule B, Line 10. Enter the total amount distributed to the beneficiary, from the IRA and any other sources. If only the net IRA payout was distributed, then the K-1 amount will be limited to this figure.
