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This article applies to:

  • Product: ONESOURCE Trust Tax

G

Gain/Loss Term Indicator
Used in Record Type 5 only when there is no acquisition date in the record.
  • Blank = N/A
  • S = Short Term (capital assets held less than 12 months - ordinary income tax rate)
  • L = Long Term (capital assets held 12 months or longer)
Generation Skipping Inclusion Ratio
An Account level field representing the proportion of the distribution subject to GST.
Generation Skip Person
A Beneficiary level field indicating the Skip Person.
  • Blank = no update for Existing Beneficiary, on NEW Beneficiary will default to Not Reviewed
  • 0 = Not Reviewed
  • 1 = Yes
  • 2 = No
Generation Skipping Trust
An account level numeric code. ONESOURCE Trust Tax Software translates this to the corresponding words:
Value
Text
1
NOT APPLICABLE
2
NOT CURRENTLY SUBJECT TO GST
3
CURRENTLY SUBJECT TO GST
4
MAY BE SUBJECT TO GST IN THE FUTURE
5
TO BE DETERMINED BY EXECUTOR/ADMINISTRATOR
6
SPECIALIST GST REIVEW REQUIRED
7
GRANDFATHERED
8
EXEMPT
Global Intermediary Identification Number (GIIN)
Is issued by the IRS when Financial Institutions (FIs) register with the IRS under FATCA and used on Form 1042-S.
Governing Situs State Code of Trust
Used to identify the Governing Situs of a trust necessary to comply with the Uniform Principal & Income statutes.
If the field is left blank, the Resident State Code of Trust will be loaded as the default value.
Grantor Name
This field is informational only.
It is a register only field and will print on the worksheet with the Trust level information.
Gross Royalty
Gross sales received from this transaction.