ProConnect HelpIntuit HelpIntuit

Reporting Federal and State Tax Refunds in the Fiduciary Module

SOLVEDby IntuitLacerte Tax2Updated July 13, 2022

To report federal and state tax refunds:

  1. Go to Screen 18, Tax Refunds.
  2. Enter the State tax refund.
  3. Enter the Federal income tax refund.
     
    • State tax refunds received from the prior year are to be included on line 8 of the Form 1041 and excluded from the state return. 
    • Federal Income Tax Refunds received during the tax year are considered in the determination of trust accounting income but ignored in the determination of taxable income.

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.