Enter authorized acts and signature information
- With the tax return open, select theSeparate Filingsfolder then thePOAtab.
- Mark theSpecific use not recorded on Centralized Authorization File (CAF)checkbox if the power of attorney or authorization was granted for a use that isn't specified in the CAF.noteUltraTax CS uses this information to complete Form 2848, line 4, or Form 8821, line 4.
- Complete the appropriateAuthorized acts for Form 2848fields to specify which acts are authorized under Form 2848.noteUse the statement dialog for theSpecific acts not authorizedfield to enter any deletions to the cts listed on Form 2848, line 5b.
- Use thePercentage of: Residual estatefield to enter the percentage of the residual estate received by this beneficiary. UltraTax CS calculates the amount of the residual estate on the Allocation of Residual Estate to Beneficiaries Worksheet by multiplying the residual estate available to beneficiaries by this percentage.note
- UltraTax CS adds the amount you entered in theSpecific amount receivedfield to the percentage of residual estate calculated and any specific bequests before printing the total for each beneficiary on Form 706, Part 4. The amount prints even if it's less than $5,000.
- If allocating a percentage of the residual estate and the residual estate available to beneficiaries is zero, only the amounts entered in theSpecific amount receivedfield and any specific bequests print on Form 706, Part 4.
