Calculate distribution amounts on Schedule B, lines 9 and 10
The amounts on Schedule B, lines 9 and 10, are based on entries on the
Allocate
screen and Dist
screen in the Allocation
folder, and entries in View
, Beneficiary Information
.- If you enter an amount in theIncome required to be distributed (Force)field on theDistscreen in theAllocationfolder, that amount prints on Schedule B, line 9. If you enter an amount in theOther amounts paid, credited, or distributed (required or discretionary)field on theDistscreen in theAllocationfolder, that amount plus any discretionary allocation calculated based on data entry inView,Beneficiary Informationprints on Schedule B, line 10. Otherwise, the amounts available for distribution include the net income amounts on the Allocation of Expenses by Income Type - Accounting Income Basis Worksheet.
- If you enter a percentage in theIncome distributionsfield in theView,Beneficiary Information, theFederaltab, Allocations section, the percentage applies to all ordinary and tax-exempt income types.
- If 100% of accounting income distributes equally to the first-tier beneficiaries, you may use theFirst tier beneficiaries: Allocate all items, except capital gains, equallyfield on theAllocatescreen in theAllocationfolder. You may use theFirst tier beneficiaries: Allocate capital gains equallyfield on theAllocatescreen in theAllocationfolder to do the same thing with capital gains. Entries in these fields have precedence over entries in theView,Beneficiary Information,Federaltab.
- If you enter a code in thePooled income funds: Allocate based on ownership sharefield on theAllocatescreen in theAllocationfolder, 100% of income allocates based on the amount entered in thePooled income fund: Ownership sharefield in theView,Beneficiary Information,Federaltab, Other returns section. The ownership share allocation has precedence over allocation percentage and amount entries in the Allocations group box or theSpecial Allocationsbutton in theFederaltab
