drids
Level 2

I'm preparing a final 1041 for a decedent's estate. When I choose that it will be the "final" return, the $600 exemption does not populate on the return in ProSeries. If I uncheck "final return" it does populate. 

Am I missing something?? Is this a bug or is the $600 not allowed on a final return? There were $50,000 in gross proceeds from the sale of stock, but only $300 in actual gains to go along with $25 of interest. The client wants to file regardless of the amount. The return winds up with $3 in tax due on the $25...no tax on the cap gains. I can also elect to distribute the $25 to the beneficiaries. But it would seem to me everything should zero out after applying the $600 exemption and I would simply be filing "for the record" so there's a match to the 1099B that was issued.

Something doesn't seem right...any ideas?

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