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"This is a final return with either short-term or long-term capital" Form 1041 diagnostic ref. 25551 in ProConnect

SOLVEDby IntuitUpdated July 28, 2023

When preparing the final return for a Fiduciary, you may encounter the following diagnostic:

"This is a final return with either short-term or long-term capital loss carryover that has not been allocated to any remainderman. To properly distribute these items, make entries in 'Short-Term' or 'Long-term' columns for 'Other' on Distribution Percentages." (ref. #25551)

To resolve this diagnostic:

  1. From the Input Return tab, go to Beneficiary/Grantor Information 1041 Distributions  Dollar Distributions.
  2. Remove all Amounts from this screen if applicable.
  3. Click on Distribution Percentages.
  4. Remove all percentages from the Required (Schedule B, line 9) subsection if applicable.
  5. Enter all percentages in the Other (Schedule B, line 10) subsection.
    • Final Fiduciary returns always use the Other (Schedule B, line 10) subsection.

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