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1041 allocation of qualified dividends

 
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JJ Jones



Joined: 25 Aug 2007
Posts: 3

PostPosted: Wed Mar 24, 2004 4:43 am    Post subject: 1041 allocation of qualified dividends Reply with quote

I'm confused by line 2a and 2b of form 1041. If the trust
must distribute all of the income and none of the principle,
it seems to me that all of the qualified dividends would be
allocated to the sole beneficiary in all cases. And yet
line 2b allows for an allocation with no clue either in the
instructions or the publications as to a basis for that
allocation. Under what circumstances would an allocation
occur? I know I'm missing something. TIA

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MTW



Joined: 25 Aug 2007
Posts: 713

PostPosted: Wed Mar 24, 2004 12:52 pm    Post subject: Re: 1041 allocation of qualified dividends Reply with quote

JJ Jones wrote:

> Under what circumstances would an allocation
> occur?

Probably in a case where the trust is not REQUIRED to
distribute all income currently and/or where the amount of
income distributed is DISCRETIONARY with the trustee.

MTW

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