Form 1041 Trust

[TAG]

I'm doing a 1041 for a Trust and want to use the K-1.  The Sch G - Tax Computation is calculating the tax on taxable income-how do I turn that off?

[TAG]

Thanks.  After 4 phone calls to Drake, I found Bridgette (sp?) who solved my problem.

[Catherine]

Want to share the secret?  I have one on my to-do list where I might need to do the same thing.  Thanks!

[Roberts]

Assuming you mean distribute all income via the K1?

They changed this feature in the software. Last year you would attribute income as Beneficiary or Fiduciary income on every input screen pretty much.

The Beneficiary's K1 needs to add up to 100%.

The time I had to call them, I had Capital Gains not rolling over and there is a feature to attribute that on the Schedule D page - very last lines of the page.

 

Otherwise, it's been my experience that the type of trust will determine this.

Under Income, Deductions and Credit you can override entries - not a fan of that.

[TAG]

Catherine,

Sure, glad to help.

 

1.  Assets / Sale tab;

2.  D2;

3.  Part III Beneficiaries boxes.

 

I'm still not liking "Data Entry".  I couldn't find this.  I think that Drake's 1041 needs to be made better, 

[Catherine]

Many have said that the 1041 is the weakest part of the Drake package.  Can't say I disagree with that assessment -- but I'll take it over the missing fixed assets, update issues, and corrupted backup files that folks are reporting as continuing issues with ATX this year.

[TAG]

Catherine,

 

Thanks for that info.......I sometimes think about going back to ATX.  But I almost had a stroke with all the problems in 2012.

 

Terry

[Catherine]

2012 just about did me in, too.  Took the leap and frankly, when I go back to ATX (that I loved SO much) for whatever reason (lots of that this year with 3115 issues - all my notes are in the program as comments) I find the format is not as wonderful as memory makes it, and I am astounded at how long it takes for some portions to load - and that is NOT with the 2012 program!

[JohnH]

Now that I'm in my third year with Drake, I don't think I could tolerate the agonizing slowness of a program such as ATX. My priorities have completely changed thanks to Drake, and (second only to reliabllity) speed is at the absolute top of the list. Speed - more profit. But one doesn't appreciate this fact until they have experienced it first hand.