ProSystem fx ® Tax – Fiduciary Simplify Your Estate and Trust Returns Streamline Your Work with Smart Features and Speedy Calculations Whether you’re working on a Simple Trust, Decedent’s Estate, or Custodial/Agency Account, you’ll benefit because ProSystem fx Tax – Fiduciary module: z Provides extensive computations for Form 1116, Foreign Tax Credit and Form 8960, Net Investment Income Tax. z Allows for import and export of oil & gas/depletion data to/from Microsoft ® Excel ® spreadsheets. z Distributes income based on amounts, decimals or a combination of both. z Allows for specific allocation of income classes, certain deductions and credits to selected beneficiaries, along with separate distribution of depreciation and depletion — or inclusion with related income amounts. z Enables a variety of distribution options, including first and second tier beneficiary allocations, per-beneficiary distributions, and the Section 663(b) (65-day) election. z Provides an option to create a beneficiary tax information letter in conjunction with a Schedule K-1. z Produces tax information letters for grantors, custodial/agency accounts, and non-resident beneficiaries. z Creates detailed statements supporting all deduction allocations. z QFT — Qualified Funeral Trust — Trustees of pre-need funeral trusts who elect treatment of IRC Code Section 685 will now be able to file Form 1041-QFT U.S. Income Tax Return for Qualified Funeral Trusts. z Perpetual Care Funds IRC Code 642(i) — If you have a cemetery perpetual care funds, we will now provide for the calculation of Form 1041, line 18 in accordance with IRC section 642(i) which allows for the deduction of $5 per gravesite for maintenance of cemetery property. z Offers several methods for allocating deductions to classes of income, including: z Pro rata to all classes of income. z In a specific order. z Specific deductions to species classes of income. z Calculates federal and selected state NOL. z Exports fiduciary K-1 data directly to ProSystem fx Tax – Individual, and applicable business returns. z Minimizes your data entry with an intuitive Worksheet Interface. z Simplifies your collection of client federal tax data using a printable Organizer. z Offers Form 1040-NR, which lets you generate a foreign trust return in the 1041 system. z Provides a K-1 import that allows you to import multiple activities from the partnership system. z Offers the ability to prepare Partial Grantor Returns, both Federal and State, with unlimited number of Grantors. z Lets you suppress state K-1s on a state–by-state basis. Gain Efficiency with Comprehensive Diagnostics and Powerful K-1 Options ProSystem fx Tax – Fiduciary also computes accounting income, estate tax deduction, creates supporting worksheets and offers extensive review and audit tools that include comprehensive diagnostics, worksheets and recap statements for income from pass-through and beneficiary distributions. Gain efficiency with a fiduciary tax package that includes powerful state and K-1 options: z Simple Trust z Complex Trust z Decedent’s Estate z Bankruptcy Estate (Federal) The ProSystem fx ® Tax – Fiduciary module lets you easily manage all types of estate and trust returns, as well as distribution and Schedule K-1 options. Increase efficiency with features that provide full flexibility for allocating and presenting deductions.