Complete the Beneficiary(ies) statement on the Trust screen
Enter beneficiary information on the Trust screen in the Gift folder. Complete the following in the Beneficiary(ies) statement.
- Donee No.:Select the beneficiary(ies) of this trust. If the list of donees doesn't contain the donee, first enter the donee on theDoneescreen or theTrustscreen.
- Percent of Trust Interest:If the trust beneficiaries' shares in the trust are equal, UltraTax CS divides gifts equally among trust beneficiaries by default, and you don't need to enter data in this column. If the trust beneficiariesdon'thave equal trust interests, enter the percentage in this column.
- You can enter percentages with up to 4 decimal places. The total of all percentages you enter displays at the bottom of this statement.
- The sumwill need tototal 100 for the beneficiaries to share in unequal percentages of the gift to the trust. If the sum of the percentages entered in this column doesn't total 100, the entries are ignored and the gift is divided equally among the beneficiaries.
- Remainder Interest:EnterXif the beneficiary has a remainder interest in the trust.
