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Allocation

Allocate estate assets and deductions to a spouse

UltraTax CS calculates the allocation of estate assets and deductions to the spouse, charities, and other beneficiaries based on data entry. It will recognize specific allocations before residual calculations occur.
This procedure explains how to allocate estate assets and deductions to the spouse on Schedule M.
  1. Choose
    File
     then
    Open Client
    , select the desired client, and select
    Open
    .
  2. Select the
    General
     folder, then select the 706 tab.
  3. Enter the decedent information, as required.
  4. Select the
    Beneficiary
     folder and then select the Names tab.
  5. Enter information pertaining to the surviving spouse, other individuals, trusts, other estates, and/or charitable organizations that received benefits from the estate.
  6. Select the
    Asset
     folder, then select the Asset tab.
  7. Enter the applicable estate asset information.
  8. Select the
    Schedule
     folder, then select the A-L tab.
  9. Enter the applicable estate deduction information.
  10. Select the U tab, then enter any applicable conservation easement information.
  11. While in the
    Schedule
     folder, select the M&O tab.
  12. Choose an option for allocating your estate assets and deductions to the spouse.
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