Follow these steps to generate Form 5227 for a charitable trust:
- Go to Input Return ⮕ General ⮕ Client Information.
- Scroll down to the Miscellaneous Info section.
- Locate the Type of Entity field & select 6= Charitable Trust.
- Select Charitable Trust from the Type of Charitable Trust dropdown menu.
- Complete all other applicable information on this screen.
- Go to Input Return ⮕ Beneficiary/Grantor Info.
- Complete any applicable information for each beneficiary.
- Select Annuity/Unitrust Distribution.
- Enter the Percentage (xxx.xxxxxx) for each beneficiary.
- This should be no less than 5% and no more than 50%.
- Complete all screens applicable to the trust including screens listed under Income and Deductions.
- Complete any applicable information in the following areas:
- Go Input Return ⮕ Char. Returns ⮕ Form 5227.