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Screen R1 - Generation Skipping Transfer Tax Payable by Trust (706)
Overview
Trust name
Enter trust information on the Names screen. Select the name of the trust paying the generation-skipping transfer tax from the fieldview.
Property does NOT bear the generation-skipping transfer tax
When you fill this box, UltraTax CS will multiple the amount in Schedule R-1, line 5 by the maximum tax rate to calculate the GST tax due. If you leave it blank, the application will calculate the GST tax that is due by dividing line 5 by (1 + [1 / maximum tax rate]).