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Form 1041 Trust Return - Tax Exempt Income

Forum|Forum|4 years ago
February 1, 2022
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I am using TT Business to complete a Form 1041 Trust Return. Although I am reporting no tax exempt income, the TT program seems to have coded a YES on the 1041 other information page (see photo). Is this a bug or something that will be corrected in a program update?

TurboTax Business Windows

Best answer by Anonymous_

I have a test return and cannot reproduce that behavior so it is doubtful there is a bug related to the box.

Enter Forms Mode and check your Interest and Dividends Worksheet as well as your tax reporting statements, such as a 1099-INT and 1099-DIV.

You should actually not have a zero on the line in your screenshot. If you have no tax-exempt interest or dividends that line should be blank.

A

Anonymous_Answer

Employee

I have a test return and cannot reproduce that behavior so it is doubtful there is a bug related to the box.

Enter Forms Mode and check your Interest and Dividends Worksheet as well as your tax reporting statements, such as a 1099-INT and 1099-DIV.

You should actually not have a zero on the line in your screenshot. If you have no tax-exempt interest or dividends that line should be blank.

N

next1cruiseAuthor

I restarted the subject return and the tax exempt income flag is no longer selected. I think the problem may have been due to a zero value I entered on the 1099. Not sure why that would make a difference but it is what it is.

Thank you tagteam for your response.