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Screen J - Accumulation Distributions (1041)

Schedule J

Use this section to report accumulation distributions and calculate throwback taxes. Enter information for each throwback year.
Throwback year in yyyy format
Enter the earliest applicable year first, and then enter the subsequent years. Also enter
X
 in the
Subject to throwback rules
 field on the Allocate screen in the Allocation folder to calculate Schedule J.
Elected alternative tax on capital gains
Enter
X
 if the throwback year is 1978 or earlier and the alternative tax on capital gains was elected in that year.
Prior accumulation distribution
Enter the sum of lines 11 and 13 from the prior-year Schedule J for each throwback year.
Tax on non-LTCG income
If the alternative tax on capital gains was elected, enter the tax on income other than net long-term capital gains in the throwback year.
Taxable income less section 1202 deduction
If the alternative tax on capital gains was elected, enter the trust's share of taxable income less section 1202 deduction from the throwback year.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1041 Fiduciary
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