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Complete the Beneficiary(ies) statement on the Trust screen

Enter beneficiary information on the Trust screen in the Gift folder. Complete the following in the Beneficiary(ies) statement.
  1. Donee No.:
     Select the beneficiary(ies) of this trust. If the list of donees doesn't contain the donee, first enter the donee on the
    Donee
     screen or the
    Trust
     screen.
  2. Percent of Trust Interest:
    If the trust beneficiaries' shares in the trust are equal, UltraTax CS divides gifts equally among trust beneficiaries by default, and you don't need to enter data in this column. If the trust beneficiaries
    don't
     have equal trust interests, enter the percentage in this column.
    1. You can enter percentages with up to 4 decimal places. The total of all percentages you enter displays at the bottom of this statement.
    2. The sum
      will need to
       total 100 for the beneficiaries to share in unequal percentages of the gift to the trust. If the sum of the percentages entered in this column doesn't total 100, the entries are ignored and the gift is divided equally among the beneficiaries.
  3. Remainder Interest:
    Enter
    X
     if the beneficiary has a remainder interest in the trust.

This article applies to:

  • Product: UltraTax CS
  • Return type: 709 Gift Tax
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