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Level 5
February 21, 2022
Solved

Trust Tiered DNI

  • February 21, 2022
  • 1 reply
  • 8 views

Original 100% beneficiary dies mid-year and all income up to death should be assigned to that bene (trust required mandatory monthly distributions of income).  After death, assets are distributed to the remainder beneficiaries, and so the after-death income should be divided among remainder beneficiaries.

 

How do I assign specific pre-death income to the deceased beneficiary and after-death income to the remainder beneficiaries?

 

Thank you!

 

 

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Best answer by sjrcpa

Lots of overrides.

Work out the correct numbers on a spreadsheet. 

Maybe you can get a % to enter in the software that will give the correct K-1 amounts.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
February 21, 2022

Lots of overrides.

Work out the correct numbers on a spreadsheet. 

Maybe you can get a % to enter in the software that will give the correct K-1 amounts.

The more I know the more I don’t know.
TaxGirl3Author
Level 5
February 22, 2022

Ouch!