Account data
In
Record 1
(the account record), the application stores some data at a permanent level and some at the tax year level. Refer to the following tables to help you understand more about the difference between them. They'll also help you understand where locks are and if you can update them.note
The title of each section refers to the field's location in ONESOURCE Trust Tax.
Account information
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Sub-ID | N | N | N |
990 Schedule A Indicator | Y | N | Y |
990-T Indicator | Y | N | N |
Account Closed Date (Found in the End Tax Year section and sets the Short Year Reason field.) | Y | Y | Y |
Account Name | N | Y | Y |
Account Name cont'd | N | Y | Y |
Account Type Minor | Y | Y | Y |
Agent for Trustee Indicator | Y | N | N |
Bank/Branch Number | N | N | Y |
Business Name Control | N | Y | Y |
Month Tax Year Ends (Sets tax year Begin and End dates | N | Y | N |
Resident State Code of Trust | Y | Y | Y |
Taxpayer ID of Account | N | Y | Y |
Account information (1099 section)
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
1099-Q Indicator | Y | Y | Y |
1099 Account Indicator (Div/Int/OID/B) | Y | N | N |
1099 Misc Receipts (Rent and Royalty) | Y | N | N |
1099 Misc Disbursements (Service Provider) | Y | N | N |
1099 R Indicator | Y | Y | Y |
5498 Indicator | Y | Y | Y |
5498 Fair Market Value Tax Year | Y | Y | N |
5498 Fair Market Value as of 12/31 for the tax year | Y | Y | N |
5498 Fair Market Value of certain specified assets amount | Y | Y | N |
Account information (State Misc. and UPIA)
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Governing Situs State Code of Trust | N | Y | Y |
Grantor Name | N | Y | N |
State Grantor First Name | N | Y | Y |
State Grantor Middle Name | N | Y | Y |
State Grantor Last Name | N | Y | Y |
State Grantor TIN | N | Y | Y |
State Taxpayer ID | N | Y | Y |
Trust County of Residence | Y | Y | Y |
Uniform Principal& Income Qualification Indicator | N | Y | Y |
Unitrust Payout Amount | Y | Y | Y |
Additional information and tax forms
Form 706-GS(D1)
Record 1 | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Generation Skipping Inclusion Ration | Y | Y | N |
Administrator controls
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Administrative Officer Code | N | Y | Y |
Investment Officer Code | N | Y | Y |
State Processing Indicator | N | Y | Y |
Tax Officer (Tax Preparer) Code | N | Y | Y |
Year End Processing Indicator | N | Y | Y |
Prep notes
The following fields create a prep note on the account:
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Attorney General Registered Number | Y | Y | N |
Attorney General State | N | Y | N |
Date of Agreement
The following all apply to the
Date of Agreement
field, but differ based on the location in the application.Trust Tax location | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Create Date | N | N | Y |
Tax Year Begin | Y | N | Y |
Short Year Reason | Y | N | Y |
Main or sub account trust number
Record 1 field | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Related Account | N | Y | N |
Recipient summary
Record 1 | Year specific | Allows updates | Allows locks |
|---|---|---|---|
5 x 5 Power Amount | Y | Y | Y |
Year End Market Value (If not using the 5498-specific field, this affects the IRA Fair Market Value field.) | Y | Y | Y |
Year End Market Value Percent of Power | Y | Y | Y |
Register
Record 1 | Year specific | Allows updates | Allows locks |
|---|---|---|---|
Generation Skipping Trust | Y | Y | N |