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This article applies to:

  • Product: ONESOURCE Trust Tax

Processing 65 Day Election Letters

65 Day Election Letters are available when submitting
Tax Return Projection
 or
Tax Return Projection and Worksheet
 processing requests for irrevocable accounts. The processing request can be submitted from a register or the account binder.

Processing from a Register

To process 65 Day Election Letters from a register:
  1. From the Register Listing page, select Run for the register that includes the irrevocable accounts you want to process 65 Day Election Letters for.
  2. Select the check box in the first column for each irrevocable account you want to process. If you want to select all of the accounts in the register, do not select any check boxes.
  3. The following graphic shows that the check boxes for two accounts are selected:
  4. Select the
    Process
     subtopic.
  5. Select
    Tax Return Projection
     or
    Tax Return Projection and Worksheet
     from the
    Request
     drop-down list.
  6. Under the
    Projection Options
     collapsible section, review the
    Year to Date
     option to ensure it is selected. When the
    Year to Date
     option is selected, beneficiary distribution amounts from the beginning of the year to the date of your request are included on the 65 Day Election Letters.
  7. Select the
    Prepare 65 day election letter (Irrevocable trusts only)
     check box.
  8. Select
    Process
    .

Processing from the Account Binder

To process a 65 Day Election Letter from the account binder:
  1. Open the irrevocable account you want to process a 65 Day Election Letter for.
  2. Select
    Process
     from the
    Account Action
     drop-down list.
  3. Under the
    Process
     collapsible section, select
    Tax Return Projection
     or
    Tax Return Projection and Worksheet
     from the
    Request
     drop-down list .
  4. Under the
    Projection Options
     collapsible section, ensure that the
    Year to Date
     option is selected. When the
    Year to Date
     option is selected, beneficiary distribution amounts from the beginning of the year to the date of your request are included on the 65 Day Election Letter.
  5. Select the
    Prepare 65 day election letter (Irrevocable trusts only)
     check box.
  6. Select
    Process
    .