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Federal input screens

Screen 1099R - Distributions (1041)

General Information

State postal code
Enter the state's postal code here. If you leave this field blank, the activity’s income is not state source.
Income type
Use this field to select a type of pension or retirement plan to determine whether the income is taxable or should be a subtraction for state purposes. The annuities type is considered investment income for Form 4952.
Code D, Nonqualified annuity (for Form 8960)
Enter
X
 in this field if Form 1099R, Box 7 contains code D. Enter the other distribution code in the
Box 7, Distribution code
 field on this screen.
Non-retirement income
Enter
X
 to indicate that the income is investment instead of retirement. This information does not appear on the federal 1041 return, the information is for state purposes only.

Form 1099-R Facsimile

Gross distribution
Enter the gross distribution from Form 1099-R, Box 1. This amount is part of the calculation of nontaxable income and accounting income.
Taxable amount
Enter the taxable amount of the distribution from Form 1099-R, box 2a. The difference between the
Gross distribution
 and
Taxable amount
 fields reports as nontaxable income on Form 5227, Page 1, line 15 and is part of tax-exempt income for Form 1041 calculations. If you don't want to consider the difference as nontaxable income, remove the checkmark in the
Nontaxable income: Treat difference between the 1099R Screen gross distributions and taxable amount as nontaxable
 field on the Income screen in the Income folder.
Capital gain
Enter the capital gain from Form 1099-R, box 3. This amount only calculates on Form 4972, and does not report on Forms 1041, 1040NR, or 5227.
Net unrealized appreciation
Enter the amount of net unrealized appreciation from Form 1099-R, box 6. If applicable, also enter election information in the
Elect to include net unrealized appreciation in income
 statement in the Form 4972 - Lump-Sum Distributions Tax section to calculate the amount of net unrealized appreciation includible in taxable income. If there is an amount in the
Capital gain
 field, the portion qualifying for capital gain treatment is also calculated.
Distribution code
Choose the code from Form 1099R, box 7 that identifies the type of distribution. The only codes that are applicable to the federal return are codes
A
 (for preparing Form 4972) and
D
 (for preparing Form 8960). Any other code you enter will not affect calculations on the federal 1041 return. They are for state purposes only.
Other
Enter the current actuarial value for the current-year distribution to calculate on Form 4972, Part III. If the distribution is made to more than one person, enter the percentage of the annuity contract for the recipient whose data you're currently entering. If the distribution wasn't made to more than one person, leave this field blank.
Percent of total distribution
Enter the percentage the taxpayer received if this is a total distribution that is distributed to more than one person. The program will automatically calculate the lump-sum distribution tax for multiple recipients. If the distribution is not made to more than one person, leave this field blank.

Form 4972 - Lump-Sum Distributions Tax

Entire distribution from qualified pension, profit sharing, or stock plan
Use this field to indicate if this distribution was the plan participant’s entire balance from the qualified plan. If you enter No, you cannot use Form 4972.
Part of the distribution rolled over
Use this field to indicate if any part of this distribution was rolled over into another qualified plan. If you enter Yes, you cannot use Form 4972.
Distribution paid to a death beneficiary
Use this field to indicate if this distribution was paid to a beneficiary of a plan participant who died after reaching age 59½ or who was born before 1936. If you enter No in both the
Distribution paid to a death beneficiary
 and
Plan participant born before 1936 and participant for at least 5 years prior to the distribution
 fields, you cannot use Form 4972.
Plan participant born before 1936 and participant for at least 5 years prior to the distribution
Use this field to indicate if the plan participant who received this distribution was born before January 2, 1936, and was in the plan at least five years before the year of distribution. If you enter No in both the
Distribution paid to a death beneficiary
 and
Plan participant born before 1936 and participant for at least 5 years prior to the distribution
 fields, you cannot use Form 4972.
Form 4972 used by participant in a prior year
Use this field to indicate if Form 4972 was used after 1986 for a previous distribution. If you enter Yes, you cannot use Form 4972.
Form 4972 used by beneficiary in a prior year
Use this field to indicate if this distribution is being paid to a beneficiary who used Form 4972 for a previous distribution from a plan participant after 1986. If you enter Yes, you cannot use Form 4972. If Form 4972 is not applicable, leave this field blank.
Death benefit exclusion
The calculation of the taxable pension distribution uses the lesser of the amount in this field or $5,000.
Federal estate tax attributable to lump-sum distribution
Enter the amount of federal estate tax paid on this lump-sum distribution. If completing Part II, the capital gain amount decreases by the applicable estate tax.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1041 Fiduciary

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