D.D. Palmer wrote:
- quote -

The instructions explicitly tell you to use Line 8. And, if
that is the only "Other Income", you don't need a separate
schedule. That said, as there is no taxable income to
report, Line 8 would be zero. I would normally agree with
Benjamin about starting the SOL clock, but in this case I
would not file if there were no entries anywhere else in the
Income section.

--
Alan
http://taxtopics.net

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"D.D. Palmer" <ddpalmer[at]hotmail.com> wrote:
- quote -

I don't have the 1041 instructions in front of me right now,
but you should read them carefully. It might indicate where
it goes. I would possibly attach a schedule showing the
transactions.

Another reason to file a 1041 is that it starts the statute
of limitiations.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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"Benjamin Yazersky CPA" <johndoe[at]nowhere.com> wrote:
- quote -

I looked at the 1041 and could not find where to report
1099-R income then where to reconcile the taxable amount as
zero. Any suggestions?

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"D.D. Palmer" <ddpalmer[at]hotmail.com> wrote:

- quote -

I'd file the 1041

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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Years ago my parents set up a trust for my kids (two account
in the same single trust for both of two kids) and purchased
a tax-deferred annuity. I am the trustee. We can debate the
wisdom of this and the investment chosen, but that is not
the nature of my question.

In 2006 as trustee I rolled the annuities from Allstate to
Vanguard. Today I received, for each account, Form 1099-R
showing a total distribution and the basis (contributions).
The distribution code is marked "6" which is for a tax-free
Section 1035 exchange.

Do I need to file a Form 1041 for the trust (there is no
other income or transactions in this trust) showing this
rollover, or does the distribution code "6" calm the IRS
computers that this is a rollover??

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