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Allocation

Allocation of Expenses by Income Type—Accounting Income Basis worksheet

The Allocation of Expenses by Income Type—Accounting Income Basis worksheet is 1 of 4 worksheets that show how expenses are calculated. These worksheets are available in the
Expenses
 folder in Forms view.
To view this worksheet, right-click and select
Switch to Form
, then select the
Expenses
 folder.
  • Net income amounts calculated on an accounting income basis are used for required distributions. That allocation is reported on Form 1041, Page 2, Schedule B, line 9.
  • You can exclude any income category (except tax-exempt) from the allocation of indirect expense. Mark the category checkboxes in the Exclude Indirect Expense section on the
    Allocate
     screen in the
    Allocations
     folder. If you exclude an income category, it's excluded for both the Tax Basis and Accounting Income Basis Worksheets.
  • You can force any net income amount by using the Net Income by Type section on the
    Allocate
     screen in the
    Allocations
     folder. If you force an amount, it's forced for both the Tax Basis and Accounting Income Basis Worksheets.
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