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Screen 8938 - Statement of Specified Foreign Financial Assets (1041)

General Information

Specified person(s) who are current beneficiaries of the trust
If you select only one name, the beneficiary name and tax identification number displays on Form 8938, Line 4. If you select more than one beneficiary, the information prints in a statement with the return.

Tax Items Attributable to Assets

Foreign deposit and custodial accounts
If tax items (income, gain or loss, deductions, or credits) are attributable to accounts reported in Part V, then add up all foreign deposit and custodial accounts reported on Form 8938, Part V, and enter the totals for each applicable tax item in the corresponding amount field.
Other foreign assets
If tax items (income, gain or loss, deductions, or credits) are attributable to assets reported in Part VI, then add up all foreign assets reported on Form 8938, Part VI, and enter the totals for each applicable tax item in the corresponding amount field.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1041 Fiduciary
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