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Prepare Form 1040NR for a foreign estate

You can use Form 1040NR to file a nonresident return for a foreign estate.
  1. Open the
    1041
     screen in the
    General
     folder, and enter
    X
     in the
    Prepare Form 1040NR
     field.
  2. In the
    Income, Deductions, and Activity
     folder, enter income and deductions that are effectively connected with a U.S. trade or business.
  3. Go to
    View
     then
    Beneficiary Information
     and enter the beneficiary name, address, and allocation information to prepare Schedule K-1 equivalents for the beneficiaries.
  4. Open the
    1040NR
     screen in the
    General
     folder and enter any necessary information in the General Information section.
  5. In the Income Not Effectively Connected section, enter data to report income on Form 1040NR, Page 4, Schedule NEC. UltraTax CS reports withholding amounts you enter in this section in the Form 1040NR, Page 2, Payments section.
    note
    Income not effectively connected with a U.S. trade or business is generally taxed at 30%. UltraTax CS applies the 30% tax rate to income amounts you enter directly into the input screen instead of the statements. If the income is subject to a different rate due to a treaty or other reasons, enter the information in the applicable statement.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1041 Fiduciary

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