Prepare Form 1040NR for a foreign estate
You can use Form 1040NR to file a nonresident return for a foreign estate.
- Open the1041screen in theGeneralfolder, and enterXin thePrepare Form 1040NRfield.
- In theIncome, Deductions, and Activityfolder, enter income and deductions that are effectively connected with a U.S. trade or business.
- Go toViewthenBeneficiary Informationand enter the beneficiary name, address, and allocation information to prepare Schedule K-1 equivalents for the beneficiaries.
- Open the1040NRscreen in theGeneralfolder and enter any necessary information in the General Information section.
- In the Income Not Effectively Connected section, enter data to report income on Form 1040NR, Page 4, Schedule NEC. UltraTax CS reports withholding amounts you enter in this section in the Form 1040NR, Page 2, Payments section.noteIncome not effectively connected with a U.S. trade or business is generally taxed at 30%. UltraTax CS applies the 30% tax rate to income amounts you enter directly into the input screen instead of the statements. If the income is subject to a different rate due to a treaty or other reasons, enter the information in the applicable statement.
