U, W, Y

Enter the value to identify the method of satisfying the statute:

Blank, 0 = Non-Participant
1 = Power to Adjust
2 = Unitrust

The yearly value displayed on the ONESOURCE Trust Tax Software 5227 General Information screen with the title of "Fixed percentage to be paid to recipients".

The yearly value displayed on the ONESOURCE Trust Tax Software 5227 General Information screen with the title of "Unitrust amount (Override)".

Number of units/shares transacted in transaction record. When populating this element on a cash dividend receipt transaction, it should represent the number of shares on which the dividend was paid, not necessarily the number of shares currently owned. It will be used in the qualification test applied to all dividend receipts.

Number of units/shares sold.

The yearly value displayed on the ONESOURCE Trust Tax Software Split Interest Trust Information screen. This date prints on the 5227, page 2 at the top of column C in the balance sheet.

Identifies a recipient that was included on an IRS B Notice and needs to receive a W9 Notice. ONESOURCE Trust Tax Software doesn’t produce the W9; therefore, this is only informational.

Blank, 0 = No
1 = Yes

Date that the W9 Notice was mailed to the recipient. ONESOURCE Trust Tax Software doesn’t produce the W9; therefore, this is only informational.

When a value of

Yes

is bridged, the Wash Sale Disallowed loss amount is also required (without an amount the indicator won’t be honored and not be set). See Record 4 or 5 General instructions on an explanation of how these fields work together.

Blank, 0 = Undetermined
1 = Yes, is a Wash Sale
2 = No, Not Wash Sale

Clients can indicate via their trust system tax interface what the disposition of each trust account should be. This field is available for use in registers to segregate their work. Prior to 1998, tax return processing was kicked off by our Production staff, and this indicator was used to signal accounts that were ready for processing. With the release of the PC-based environment, clients control tax processing, however there may be some institutions that still use this indicator and use registers to create the lists of work to be processed.

Most clients building new tax bridges can leave this field blank unless it is needed for internal processes (see Year End Processing Indicator section of this document for more details).

1, 4 = Load and hold
2 = Print without review (Do-it)
5 = Tax Information Statement (Custom)
6 = Tax Information Statement with Worksheet (Custom)
7 = Prepare print for review (local print)
9 = Worksheet only no tax return prepared

Blank = field won’t be updated
0 = Leave Status Blank
1 = Full Year Resident
2 = Part-Year Resident
3 = Full Year Nonresident