Level 6

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Closed out Trust receives a 1099R with withholdings

Forum|Forum|1 year ago
February 27, 2025
2 replies
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Client is the beneficiary of a Trust that was closed out in Feb of 2024. The Trust has received a 1099R with some taxable income and federal withholdings. My thought process is that the withholdings will flow to the beneficiary in the form of a refund for the 1041. Is that correct?

ProSeries Professional

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Best answer by George4Tacks

Yes.

https://accountants.intuit.com/community/proseries-tax-discussions/discussion/1099r-and-1041/00/251006?srsltid=AfmBOoofJ-z8RKa7OWP7Jb8jVbIFkCvDA0WH2B5KzyoCoE3mO7QpDM7w

George4TacksAnswer

Level 15

Yes.

https://accountants.intuit.com/community/proseries-tax-discussions/discussion/1099r-and-1041/00/251006?srsltid=AfmBOoofJ-z8RKa7OWP7Jb8jVbIFkCvDA0WH2B5KzyoCoE3mO7QpDM7w

Answers are easy. Questions are hard!

Level 5

I have the same problem; a trust with a 1099-R with lots of fed tax withheld.

I cant find anywhere to enter the 1099-R............

Should I just do a nominee to the final return for the person who died?

Any help would be appreciated!

Level 15

Other income.

No you can't nominee to the decedent.

The more I know the more I don’t know.

Level 5

Ouch!