Craig Williams CPA
Level 1
03-11-2020
03:44 PM
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ProSeries will now automatically allocate the 199A income to a Statement A for each beneficiary that receives distributions. The 199A statement may reflect expenses against it much like T/E income depending on the trust document and the type of trust (simple v. complex). On a simple trust, your 199A dividends probably should flow to the Statement A in full with no expenses against it.
Make sure you enter your 199A dividends from your 1099 in the 199A field on the Int-Div worksheet. Make sure you have the latest 1041 update (2019.12.0.0)