Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Grantor Trusts

Prepare partial grantor return

Partial Grantor's available for nongrantor returns only. Form 2023, partial grantor return's solely data entry.
To prepare a partial grantor return:
  1. Go to
    Organizer
    ,
    General Information
    ,
    Basic Return Information
    , and then
    Entity Information
    .
  2. Select an option in the
    Entity Type
     field, but not Grantor.
  3. Select the
    This is a partial Grantor Return
     option.
  4. Select
    Total Partial Grantor Amounts
     and enter the total amounts. These are used for partial grantor only and aren't used anywhere else in the return.
  5. Next go to
    Organizer
    ,
    Beneficiary Info (1041)
    ,
    Beneficiary Information
    ,
    Beneficiary Name
    , and then
    General Beneficiary Information
    .
  6. Select
    BeneName/Address/Distribution Info
    , and find the
    Partial Grantor Information
     section of the screen.
  7. Select
    This Beneficiary is partial grantor beneficiary
    .
  8. Next enter the percentage for this beneficiary in the
    Beneficiary percentage for partial grantor
     field. This percentage gets used to calculate partial grantor amounts only and isn't intended to be used anywhere else in the return.
  9. Lastly, go to
    Tax Forms
    ,
    Federal
    ,
    Beneficiary Letters
    , and then
    Partial Grantor Tax Information
    . You can review the partial grantor amounts for each beneficiary and then view the letter in print preview.

This article applies to:

  • Return type: 1041 Fiduciary
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close