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1 Reference Manual: Section II The Advanced Method (All Modules) The Lackner Group, Inc. 6-in-1 for Windows and Macintosh Patent Pending The Lackner Group, Inc. Carnegie Office Park, Suite North Bell Avenue Pittsburgh, PA Telephone: (412) Fax: (412) Web Site by The Lackner Group, Inc. All Rights Reserved.

2 This computer program and the accompanying documentation are designed to provide accurate and authoritative information with regard to the subject matter covered. They are provided with the understanding that The Lackner Group, Inc. is not engaged in the practice of law. If legal advice or other expert assistance is required, you should seek the services of a qualified professional. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic or otherwise, without the prior written permission of The Lackner Group, Inc.

3 FOREWORD This document is current as of the date shown in the lower left-hand corner of the cover page. As significant changes to the program or procedures are made, the manual will be updated or a Supplemental document will be made available. Every effort has been made to provide current screen shots of transactions, schedules and documents in the examples. However, there may be minor differences due to the later addition or removal of a field or button. This document was initially created using Microsoft Word XP and is currently distributed in PDF format. Updates and future documents will be created in Adobe FrameMaker 7.2 and it is anticipated they will be published in PDF format and available on The Lackner Group, Inc. web site in HTML + CSS format. The PDF version contains bookmarks. This manual is also available in a printed version. Please contact the Sales Department for additional information.

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5 Section II: 6-in-1 for Windows and Macintosh The Main Menu (Advanced)... 1 Select an Existing Estate or Trust... 2 Currently Selected Estate... 2 New Estate/Trust in-1 Button... 2 Convert Estates and Trusts... 3 Version Information... 3 Documentation... 3 Quitting the Program Estate and Trust Lists... 5 Functions/Features of the Lists Add New Estate/Trust Copy Estate/Trust Delete Estate/Trust General Information List of Probate Forms/Previous Probate Form Print List of Estates and Trusts Search Criteria... 7 Name Filter... 7 Estates, Trusts or Both... 7 Restore Criteria... 8 Show All GENERAL INFORMATION Navigation Panel Decedent or Grantor: Basic Information Decedent: More Basic Information Fiduciary (Primary) Fiduciary (Additional) Attorney/Accountant/Trust Officer Surviving Spouse Joint Owners Miscellaneous BENEFICIARIES Entering Beneficiary Information: Beny Details Previous and Next Buttons Tax Allocation...20 Allocation vs. Distribution and Marital or Charitable Deductions: Pre-residue Allocation: Summary method Pre-Residue Allocation: Detail/transaction method... 22

6 Residue Allocation Manual (Amount)...27 Automatic (Percentage) Distributions...28 Examples...29 Marital Deduction: Schedule M (706 and OH Estate Tax Return) Charitable Deduction: Schedule O (706), Schedule J-II B (PA) Schedule K (OH)...32 Accounting: In-Kind Distribution Accounting: Copied Transaction Accounting: Cash Distribution Fiduciary Income Tax...38 Import from Transactions Create Distributions in the Copy Beneficiary Records from a prior return Miscellaneous...42 Suppressing Beneficiary Data (PA, IN, NJ, NC, OH) Beneficiary Shares/706 (Pre-Tax) Beneficiary Shares/706 (Post-Tax) Beneficiary Shares/IN, NJ, PA Page PA Sch J/IN Tax Sch (not pictured) Will Details: A Different Approach TRANSACTIONS...46 Advanced Method...46 Accessing Transactions in-1 Button in-Menu (Hub and Spoke) Navigation in Transactions Data Fields Specific to Tax Returns and Documents View Documents and Tax Returns in-1 Button...48 Shortcut method View Schedules (Shortcut method) History...49 Ledger...50 Bank Details...50 Reports Transaction Screens Descriptions Main Screen Data Entry...51 State Death Tax (XXD) Screen... 51

7 1041 Screen...52 State Fiduciary Tax Return Inventory...53 Accounting...53 Accounting...54 Banks...55 Records Information Transaction List (Sort and List Options) Sorting Options...56 Sort by Date...56 Sort by Name...56 Sort by Amount...56 List Options...57 Show Only Transactions for One Name Show Transactions Beginning with Selected Letters (or numbers) Show ALL Transactions Search Options...59 Search Layout...59 History...60 Tax or Accounting Schedule Reports...62 Asset History...62 Bank Balance (ALL Banks) Bank Reports...64 Bank Details Report...64 Bank Report (Details with multiple options) Schedules (Account or Tax) Sorting Reports (Account or Tax) Variance Report (706/State Death Tax) Other Reports Data Entry in Transactions Required Fields (Main Data Entry Screen) Name (Required)...70 Code (Required)...71 Entering the Code Finding a Code Customizing a Code Result Suppressing a Code Result Date (Required)...75 Format of Date Amount (Required)... 76

8 IRD...76 IRD Codes Customizing Transactions (Module-Specific) Schedule or Line Number...78 Amount...78 Full Description...78 Separator Form-Specific Data Data Entry Screen Options Alternate Valuation Schedule E-2 and K Character of Institution State Death Tax Returns Data Entry Screen Options PAD tab (Pennsylvania Inheritance Tax) IND tab (Indiana Inheritance Tax) OHD tab (Ohio Estate Tax) Other States Data Entry Screen Options State Fiduciary Income Tax Returns Inventory Options...84 Account Options Editing Transactions...85 Finding Transaction(s)...85 Find Transactions using the Module-Specific Data Entry Screens Search by Name Search by Schedule or Line Number Add, Edit or Delete Data in Fields Add, Edit or Delete Form-Specific Data (Optional) Transactions: (Examples)...88 Basic Transactions...88 Example 1: Bank Account (Checking) with accrued interest Transaction #1: Principal Balance Transaction #2: IRD Example 2: Listed Stock with IRD Dividend (two transactions) Transaction #1: Enter the asset Stock: Price Per Share is Unknown Transaction #2: Enter the IRD Dividend Example 3: Bond...93 Example 4: Jointly Held Property (Non-spouse co-tenant with IRD) Transaction #1: Enter the Joint Account (Date of Death Principal Balance)...94 Transaction #2: Enter the IRD Attributable to the Joint Account... 96

9 Example 5: Distribution Transaction #1: In-kind Distribution Transaction # 2: Cash Distribution Example 6: Sale Example 7: Prorated Interest Example 8: Interest Income Example 10: Payment of a Debt Example 11: Payment of Administration Expenses Additional Examples and Headers Tax Returns and Documents Accessing Your Documents in-1 Button Shortcut Method (from Transactions) View the Main (or Cover) Page View Specific Schedules Checklists in Tax Returns Numbered Pages of the Return Schedules Viewing Tax Schedules Date Ranges Recalculation Pagination: Model Account (Summary Page) Automatic Pagination Custom Pagination Printing Options Complete Tax Returns and Documents Print a Schedule From Preview Transactions: Addendum I CUSIP Numbers SECTION II Index...119

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11 Section II: 6-in-1 for Windows and Macintosh The Main Menu (Advanced) a 3 2b Activate The option to activate all, some, or none of the modules determines what appears on the 6-in-1 Main Menu screen as well as the drop-down submenu navigation options available from the large 6-in-1 button found in the upper right-hand corner of most screens. On the left below is the submenu with all modules activated for a PA Estate. On the right below is the drop-down submenu with the Federal and State Fiduciary Income Tax Return and 709 modules de-activated. Note: A checkmark next to the module name indicates a return or document for the current Estate or Trust has been created. By default, the 709 module is de-activated and must specifically be activated by clicking on the checkbox. To permanently activate various modules, hold down the <shift> key while clicking on the text Activate. For more information, click on the blue help button. All modules Activated Fiduciary Income Tax and 709 Modules de-activated. Revised 05/04/2006 SECTION II Page 1 of 123

12 2 Select an Existing Estate or Trust If you have previously created an Estate or Trust, you may select it from this scrollable list. Use your mouse cursor or the <up> and <down> arrow keys to scroll through the list. To select an Estate or Trust, click on the name when it is highlighted. If you have not previously created an Estate or Trust, click on the Add New Estate/Trust button to create one. List Viewing Options 2a 2b 3 You may view only Estates, only Trusts, or both by clicking on the radio buttons to set the option. To view shorter lists of Estates and Trusts, you may enter up to three (3) characters of the last name in the yellow box just above the list. To view all Estates/Trusts, click the button labeled Clear. A single click on an Estate/Trust name chooses the Estate/Trust.. Currently Selected Estate The name of the currently active Estate appears here. To select a different Estate or Trust, follow the instructions above. 4 New Estate/Trust If no Estates or Trusts have previously been created, clicking this button will create a new Estate/Trust record and navigate to the General Information main data entry screen partially shown below. (Explanation of this and related screens can be found in the General Information section of this manual.) Note: The option to add a new Estate or Trust is also available from the Lists of Estates and Trusts and from General Information data entry screens. The buttons are located in the Navigation Panel found on the right side of the screen. 5 6-in-1 Button Once you have selected the Estate/Trust, you may click on any of the buttons (such as Beneficiaries, General Information, Probate Forms, Add Transactions, Edit Transactions, State Inher/Estate Tax, etc.), to navigate directly to the selected option. However, it is recommended that you use the large gray 6-in-1 button found in the upper right-hand corner of most data entry screens to navigation among the modules and databases. Clicking on that button will produce a submenu listing all of the options available to you based on the modules you own as well as forms and documents available to you based on the domicile of the Estate or Trust. Hold down the <shift> key and click on the 6-in-1 button to quickly navigate to the Main 6-in-1 Menu. Revised 05/04/2006 SECTION II Page 2 of 123

13 6 Convert Estates and Trusts The DOS 6-in-1 Gold and Lite Version 5 files and Windows I-Tax files may be converted to the new Windows/Mac 6-in-1 application. Click on the appropriate button to set up and run the conversion. BE SURE TO READ CAREFULLY the Conversion instructions (currently a separate document) for steps to update your files before attempting to convert them. The main conversion screen for the DOS files is shown to the right and the ITax conversion menu is shown below. 7 Version Information The currently installed version number and date will always appear here. When you contact our Technical Support Group, you may be asked to provide this information to assist in answering your questions. 8 Documentation Documentation (available also from the 6-in-1 submenu) includes program, tax return instructions, and Release Notes in a PDF format. Revised 05/04/2006 SECTION II Page 3 of 123

14 9 Quitting the Program Although there are green quit buttons found on a few screens, it is suggested that you quit the program by selecting the Quit option from the submenu available by clicking the large gray 6-in-1 button found on most data entry screens. It is the last option on the list. Note: All information is automatically saved in the Windows/Mac 6- in-1. Accordingly, there is no Save button in this application. CAUTION: DO NOT attempt to close the program by clicking on the X in the upper-right hand corner as you might do in other Windows applications. Unless absolutely necessary, please do not close the program using the <ctrl> <alt> <del> key combination. Closing the program by either of these two methods may damage the database and require a recovery procedure. Revised 05/04/2006 SECTION II Page 4 of 123

15 2.02 Estate and Trust Lists The 6-in-1 for Windows and Macintosh application currently has two lists, both of which are used to find Estates and Trusts and change the focus of the program to the selected Estate/Trust so that you may add, edit, view and print various documents relative to it as well as add, edit and delete beneficiaries. The lists may be accessed by clicking any List of Estates & Trusts button or by selecting the option from the large gray 6-in-1 button submenu. The detailed list has filter options to restrict the viewed list to Estates, Trusts, or both as well as the option to additionally limit the list entities whose names begin with the letter(s) entered in the yellow box on the screen. Filters or limitations chosen on the Detail List are automatically applied to the Simple List. Some statistical data is shown on the Detailed List and more is available by clicking on the Stats button. Estates and Trusts may be copied (Simple List only) or deleted (both lists) here. A new Estate or Trust entity may be opened by clicking on the New Estate/Trust button found on both lists. The Simple List, as the name implies, includes the names of Decedents and Grantors, Entity or Trust Beneficiary Name, file ID assigned and includes the ability to perform some basic functions and includes a link to Probate forms. The detailed list provides more information about each entity, viewing options, and access to Estate and Trust statistical information as well as a link to Will Details. A list of Estates and Trusts can be printed from the Simple List. Simple List Detailed List Revised 05/04/2006 SECTION II Page 5 of 123

16 Functions/Features of the Lists Add New Estate/Trust From either list, click on the gray add button located in the upper right-corner of the Navigation Panel Copy Estate/Trust This function is available only on the Simple List. Clicking on this button brings up the message box shown here. Click yes to copy or cancel to return to the data entry screen. Note: Only general information is copied into a new Estate or Trust. Beneficiaries and transactions are NOT copied Delete Estate/Trust This function is available from either list. Click this button next to the name of the Estate or Trust you want to delete. A message box will appear instructing you to close the message box [Click OK] and click the Del button again to delete the estate. IMPORTANT: Deleting an Estate or Trust permanently deletes ALL documents associated with the Decedent or Grantor, all transactions, all beneficiaries and all general information. THERE IS NO UNDELETE FEATURE AVAILABLE General Information Navigation directly to the General Information data entry screens is possible from either list by clicking on the yellow button located near the top of the Navigation Panel located on the right side of the screens. Additionally, you may also navigate to General Information by double-clicking on the name of the Estate/Trust in the list List of Probate Forms/Previous Probate Form This function is available on both lists. Clicking the List button will produce a submenu listing of US and State forms. The Prev Probate Form button navigates to the Probate form most recently viewed. Revised 05/04/2006 SECTION II Page 6 of 123

17 Print List of Estates and Trusts You may print a list of your Estates and Trusts by clicking this button found on the Navigation Panel on the right side of the screen on the Simple List screen only. A sample of the list is shown on the next page Search Criteria Name Filter This feature is only found on the Detailed List. G Enter up to three (3) letters of the last name of the entity to limit the list being viewed to only those entities whose last names begin with the selected letters. In the example below, the letter G was used and the Estate/Trust/Both option was set to Estate. If you switch to the Simple List, the filter will still be applied. You may also use the list button located on the Advanced Main Menu screen just below the large gray 6-in-1 button to limit the list of Estates and Trusts visible in the blue portal area. Estates, Trusts or Both Limit the list viewed by clicking on the radio button. Note: If you click on Simple List, the filter will still be applied and you will see only those entities matching the criteria set on this screen. Revised 05/04/2006 SECTION II Page 7 of 123

18 Restore Criteria When you access the list from tax returns, documents or General Information, all Estates and Trusts normally appear on the list. If you have previously set search options here or on the Stats screen, you may restore those options. Doing so will then limit the entities viewed to those matching your last search criteria established. When filters (Search options) are applied, the button text changes to Show All as shown here. Show All Click on the Show All button (shown above) to remove all search criteria and view all estates and trusts. Revised 05/04/2006 SECTION II Page 8 of 123

19 2.03 GENERAL INFORMATION As the name implies, information that applies to multiple modules or forms may be added, edited, viewed and deleted from the General Information screens. Input fields include relevant data for the Decedent or Grantor, Spouse (if any), Fiduciaries, Attorneys, Accountants, Preparers, Will or Trust dates, Probate, joint account coowners and basic 706 elections, Access to the data entry screens is through the General Information button found on most layouts on the righthand side (usually the third button from the top). General Information is also accessible from the large gray 6-in-1 button submenu found on most layouts, from the main 6-in-1 Menu and from List of Estates and Trusts. Version 5 users are asked to review this section carefully as important changes have been made to this database that affect data entry. Much of the general information may be entered directly on documents, depending on the module being used, but, regardless of where it is initially entered (with the exception of Gift Tax Returns), it can be generally be added, edited and viewed here. There is a main data entry screen and several additional screens for entering detail (such as spouse, fiduciary, attorney, etc.). When a new Estate or Trust is created, the program opens a new record in this database. Basic information about the Decedent or Grantor is always entered here. Note: A simplified General Information data entry screen is now available in the Death Tax modules. It is accessed from Input Schedules and is described separately in Section III describing the Basic or outside-in method Navigation Panel Click to navigate directly to modules available to the current entity or to go to the main menu. Click to change to another Estate or Trust. Create a new Estate/Trust and go to General Information. Click to view a list of Probate forms available. Go to the last viewed Probate form. Click to view additional data entry screens for detailed related General Information.. Print a list of your Estates and Trusts. Set up print options. Revised 05/04/2006 SECTION II Page 9 of 123

20 Because the data entry screen requires scrolling to view in its entirety, the most commonly used navigation buttons are provided at the bottom of the navigation panel as well as at the top. See the descriptions above for the purpose of these buttons. This is an internal file number generated automatically when a new Estate or Trust is created. It is shown here for reference and diagnostic purposes only Decedent or Grantor: Basic Information The top portion of the main data entry screen (shown below) is used by both Estates and Trusts to enter the entity s name, Estate/Trust EIN, Decedent s social security number, date of death (or date of initial funding if a Trust), and domicile Domicile (Required) 5 6 This green field appears in several places on the main General Information screen. The state selected should be the domicile of the Decedent or Trust. The domicile will determine the default forms and documents available and controls the assignment of assets and expenses to the appropriate schedules for that State s tax returns and documents. When you click on the box, a pop-up menu list of States will appear. Scroll to the desired State and click on it. A checkmark will appear next to the State selected. Note: The list may be longer than fits on the screen and you may need to click on the down arrow at the bottom to scroll to the name of the State you are seeking. 2 Name of Decedent or Grantor (Required) Enter the name of the entity (last name first) using the appropriate fields. 3 Type of Entity (Required) The default assignment for a new entity is an Estate. Click on the radio button next to the word Trust to change the designation. A new feature to permit the consolidation of an Estate and multiple Trusts has been added (the Combine button). Please click on the blue help button on the main data entry screen of General Information for additional information on the use of this feature. Revised 05/04/2006 SECTION II Page 10 of 123

21 4 Date of Death or Date of Funding (Required) The date entered here will automatically be entered in the date field in transactions coded as assets. 5 Trust Designation If the Trust Designation ENDS with the word "Trust", the Trust Designation will be appended to the END of the Grantor Name to form the Entity Name; Trust Charitable Trust: Result: John D. Doe Trust Result: John D. Doe Charitable Trust Otherwise, the Trust Designation will appear BEFORE the name of the Grantor: Trust uwo Trust fbo Result: Trust uwo John D. Doe Result: Trust fbo John D. Doe 6 Trust Beneficiary Name If you enter a beneficiary name here, it will be appended to the END of the Grantor Name IN PLACE OF the Trust Designation, to form the Entity Name. Revised 05/04/2006 SECTION II Page 11 of 123

22 If you want to customize the entity name, click on the "Customize" button in the TOP LEFT corner of the General Information screen. 7 Customize (Trust) Clicking this button opens a data entry screen that allows the user to customize the way the name of the Entity appears on certain pages or schedules as described. When you have finished editing, click the Back button to return to the main screen. 8 Delete Click the delete button to delete ALL documents created for this entity. The message box shown here will appear asking you to confirm that you want to delete the Estate or Trust and all associated documents. To cancel this operation and return to the data entry screen, click the Cancel button in the lower right-hand corner of the message box. IMPORTANT: Clicking Yes will delete any 706 or related state inheritance or estate tax forms, ALL 1041 s, ALL related state fiduciary income tax returns, ALL transactions, and ALL beneficiaries as well as the General Information Record. There is no undelete feature. Once the documents are deleted, they cannot be retrieved Decedent: More Basic Information Scroll down or use your page down (<pg dn>) key to move to the bottom of the main data entry screen to enter other data relative to the Decedent Revised 05/04/2006 SECTION II Page 12 of 123

23 1 Probate Case Number For States other than PA, enter the probate, docket or cause number as is appropriate for your Court documents. 2 Decedent s Last Address Enter the Decedent s final address here. Note that when you tab through the fields and exit the Address 2 field, the cursor jumps to the zip code field. That is intentional. If you enter the zip code, the city and state will automatically be filled. The default County of domicile will also be added. 3 File Number (PA) The County number field is automatically completed when the Decedent s zip code is entered. Click on the down arrow next to the County field to change it 4 A/K/A (Also Known As) Enter one or more additional names by which the Decedent is known if required for the Petition for Probate or other Court documents. Shown below is a portion of the Petition for Grant of Letters (PA) illustrating the inclusion of an additional name. Note: The a/k/a information does NOT appear on all tax forms or documents automatically. You may need to manually type it on some forms if you wish to include it. 5 Domicile (County and State) The County, State and zip code automatically fill in here. If appropriate or necessary, this information may be overridden. The information specifically appears on p. 1 of the 706, on line 3a. The domicile selected controls the results of codes selected in transactions Fiduciary (Primary) Primary fiduciary data is entered on the main data entry screen of General Information in one of two ways: Manually entered Looked up from the drop-down list (if the entity has been entered previously as the primary fiduciary) If the fiduciary is an organization (as in the sample above), enter the organization s full name in the Bank or Firm name field and mark the radio button (circle) labeled Bank/Firm to the right of the field. If the fiduciary is an individual, enter the name in the appropriate separate fields. Revised 05/04/2006 SECTION II Page 13 of 123

24 If the fiduciary has previously served in that capacity for another Estate or Trust, the information can be automatically entered for the currently selected Estate or Trust based on that previous entry. To select the fiduciary from a list of all fiduciaries in the database, click on the button next to the LAST NAME field. When the list appears, move your cursor down the list until the desired name is highlighted and then click on the name Fiduciary (Additional) You may enter data for up to seven (7) personal representatives. On the main data entry screen, click the additional Details button and then click on the 4. Fiduciary button to enter additional fiduciaries. Only the primary fiduciary appears on the drop-down list of names. To modify the default group title of the fiduciaries, navigate to the additional fiduciaries data entry screen as described above and click into the group title field at the bottom of the data entry screen Attorney/Accountant/Trust Officer Located on the main data entry screen of General Information, the name, address, and other information for the attorney, accountant or trust officer may be entered manually or, if it has been previously entered for another Estate or Trust, may be looked up by clicking on the down arrow next to the name field. Revised 05/04/2006 SECTION II Page 14 of 123

25 The option to show either the fiduciary or the preparer address on tax returns may be made on this screen or directly on various tax return form screens. For banks and other institutions serving as fiduciaries who are also preparers of the returns, an option to show the fiduciary as the preparer is available on Form 706. Note: If the firm name is filled in (whether or not an individual s name is entered) and two Employer ID Numbers are entered (one below the telephone number and the other below the Firm Name Field), the one below the Firm name is the one that will appear on Form 1041 (U.S. Fiduciary Income Tax Return). To customize preparer information, e.g., whose name, etc. appears as Correspondent or as preparer of the Inventory for PA purposes, click on the Additional Details button and then click on the 5. Atty/Acct/Preparer button Surviving Spouse At present, the only place to enter the name of the surviving spouse for 706 or PA Inheritance Tax purposes is to click on the Additional Details button from the General Information Main Data Entry Screen, click on the button labeled 3. Spouse and enter the information. PA users may indicate the surviving spouse is to receive the family exemption by clicking on the checkbox next to the Claim Family Exemption label. Data entered on this screen will then appear on Schedule H of the PA Inheritance Tax Return Joint Owners Joint owner information is contained in the General Information file. (Joint Owners are considered to be co-owners of assets held as joint tenants with the right of survivorship.) This area is not generally used to enter the name of a surviving spouse where assets are owned by the entireties. Up to three (3) co-owners may be entered for all States except OH which allows four (4) to be entered on its State Death Tax Return. When entering a jointly owned asset in Transactions, the letter of the co-owner (A, B, C, for instance) may be selected from a submenu showing the names of co-owners entered here. Note: Only three co-owners will appear on the PA 1500 and the 706. Bank names are now added in transactions A different co-owner letter (A, B, or C) may be assigned for State Death Tax purposes. Caution: Do NOT enter the domiciliary state of residence for the co-owner in the State Letter field. Revised 05/04/2006 SECTION II Page 15 of 123

26 Names of individuals who have been entered as beneficiaries may be entered by selecting the name from a drop-down list accessed via a button located near the top of each column. Buttons (links) appear on the screen to permit the user to toggle between the 706, Schedule-2, PA-1500, Schedule F, and the Beneficiary files. The names of banks used during administration of the Estate or Trust are no longer entered on the Joint Owner data entry screen. Bank names are entered directly in transactions Miscellaneous If you are a new user and are unable to find where to enter a specific item and it cannot be entered directly on a form, please contact Technical Support for assistance. It is anticipated that, as the software is further refined, the need to access the additional details screens will be minimized. Revised 05/04/2006 SECTION II Page 16 of 123

27 2.04 BENEFICIARIES Beneficiaries may be added, edited and deleted from one of several data entry screens. Regardless of the screen used, the information is stored in a beneficiary database. EXCEPTION: Beneficiary data entered directly in the 1041 module or a State Fiduciary Income Tax Return is NOT stored in the beneficiary database and is not available via a drop-down list for distribution or tax allocation. In general, beneficiaries should be added to the beneficiary database. Once a beneficiary has been added, the name is available for use in transactions, tax allocation and for use in General Information when adding a co-owner. The data entry screens are always available from the Main 6-in-1 Menu as well as from the large gray 6-in-1 button found in the upper right-hand corner of most screens. Beneficiary data entry screens are also accessible from buttons located on other screens. In general, look for a button labeled Benys, Beneficiaries, Edit Benys, or Edit Beny Info. Links to the beneficiary database are found on the following data entry screens: 706 (Part 4, Page 2) General Information (Joint Owners, Will Details) PA Inheritance Tax Return (Schedule J and Tax allocation screen) State Death Tax returns (other) where appropriate Transactions (Main, 706, State Death Tax and Account Screens) NOTE: Buttons in the 1041 and State fiduciary income tax modules do NOT navigate to the beneficiary database as distribution data for fiduciary income tax purposes is actually stored in a different file. Beneficiary data may be imported into fiduciary tax returns from transactions or a prior year s return. Revised 05/04/2006 SECTION II Page 17 of 123

28 Entering Beneficiary Information: Beny Details Beneficiary information such as name, address, relationship, etc. is entered on the screen named 1 Beny Details (pictured below) Previous and Next Buttons To view the next beneficiary, click the Next button. To view the previous beneficiary, click the button labeled Previous. 2 Estate/Trust/Organization Name If the beneficiary is another estate, a trust or an organization (such as a charity), enter the name of the entity in this field (Note that it appears in gray until it is highlighted by clicking into the field). An entry in that field supersedes any entry of first, middle, last, etc. name. 3 New, Copy and Delete Buttons To add a new beneficiary, click the New button. To duplicate a beneficiary, click the Copy button. Use the delete key to remove a beneficiary. Note: If you are using the Basic Method, you will need to go to the Main 6-in-1 menu and click on the Advanced button to access this data entry screen to delete a beneficiary. 4 Joint Owners and Will Details Buttons These buttons are links to navigate directly to the data entry fields for joint owner names and Will details respectively. Revised 05/04/2006 SECTION II Page 18 of 123

29 5 706 and State Death Tax Buttons The 706 button is a link to the Federal Estate Tax form. A State Death Tax link (PA is shown here) may not appear if beneficiary data is not shown on the State Death Tax Return. (The name of the State is dependent on the domicile of the Decedent.) 6 Relationship Click on the down arrow next to the relationship field to view a list of relationships from which to choose, then highlight and click on the appropriate one. Using the available list insures the relationship is correctly entered to enable the program to recognize the tax classification of a beneficiary. 7 Checkboxes next to the Social Security or EID# data entry field If no Taxpayer ID number has been entered and the user has not marked the none checkbox, the word unknown appears by default. If no Taxpayer ID number has been entered and the user has not marked the checkbox none and does not want the word unknown to appear, the checkbox labeled blank should be marked. (To place an X in a checkbox, click on the checkbox. To remove an X from a checkbox, click on the checkbox again.) 8 Share of Estate (Percentage of residue or words) Enter the percentage of the residue to which a beneficiary is entitled. The amount passing to a beneficiary for Federal and State death tax purposes will be calculated based on the value of the estate and entries of pre-residue amounts either directly on lines 1-3 of the tax allocation grid (Item #10 described below) or by entering tax allocations in asset transactions. In PA only, words describing the share passing to a beneficiary may be entered. Note: For estates having a domicile other than PA, the Share of Estate (Word) field may not appear on the screen. 9 List of Beneficiaries Click to select a beneficiary s name to view and edit information. 10 Beneficiary Allocations While there are multiple screens for entry of pre-residue items (lines 1-3) and percentage of residue, this screen provides complete information about the beneficiary, pre-residue and residual allocations. Additionally, a detailed report of allocations made in transactions is available to preview and/or print. Values shown on line 11 (column 1) will appear on page 2, line 5 of the 706 for beneficiaries other than the spouse and charities receiving $5,000 or more. If the data does not automatically appear on p. 2 of the 706 when the return is accessed, click on the red button labeled Refresh List. The total for the surviving spouse will appear on page 2, Line 4c of the 706 (assuming you have marked the checkbox for married in Part 4, Line 3, Page 2). This value may be overridden. The total passing to beneficiaries receiving less than $5,000 will appear on the appropriate line of the 706, page 2. Values shown on line 11 (column 2) will appear on State Death Tax Beneficiary Schedules where applicable. Pre-residue amounts appear on the Tax Allocation page of the PA Revised 05/04/2006 SECTION II Page 19 of 123

30 Tax Allocation A new feature in the Windows/Mac program is the ability to allocate pre-residue bequests, transfers, joint assets and residual percentages to specific beneficiaries. This will pre-populate 706, p. 2, line 5, line 4c (if there is a surviving spouse) and some State Death Tax Return tax allocation schedules. The feature automates calculation of state death taxes in states having tax brackets based on the relationship of the beneficiary to the Decedent. (PA, IN and NJ are examples of states that impose different tax rates for different classes of beneficiaries.) Allocation vs. Distribution and Marital or Charitable Deductions: Tax allocation is NOT the same thing as distribution. It is still necessary to create distribution transactions for accounting and Fiduciary Income Tax purposes. Distribution transactions do NOT produce tax allocation results nor does entering the name of a beneficiary in a transaction. Allocation does NOT populate the tax schedules for marital or charitable deductions (e.g., Schedules M and O of the 706, Schedule J-IIB of the PA return, or Schedules K and M of the OH Estate Tax Return). Allocation can, however, provide an amount you may use in a distribution transaction that WILL appear on the appropriate schedule. Pre-residue allocation of specific assets (in transactions) may be made for up to 10 beneficiaries per asset and may be made either by entering percentages or dollar amounts. Tax allocation of a specific asset (in transactions) may be for less than 100% of an asset. Pre-residue allocation is specifically useful for PA death tax allocation purposes, but, when combined with entry of percentages of residue, provides an automatic calculation of residue remaining and a total passing to each beneficiary for lines 4c (spouse) and 5 (all others except charities), page 2 of the 706 and various state death tax returns where relationship to the Decedent determines the tax bracket and exemption, if any. As asset and expense transactions are added, the total residue is automatically updated. There are two methods of tax allocation: Summary (Perform your own calculations and enter totals in beneficiary records); Detailed (Allocate assets in transactions and allow the program to perform the calculations.) Pre-residue Allocation: Summary method If a beneficiary is receiving only pre-residue amounts (bequests, joint assets, transfers), totals for each category may be entered directly on the appropriate lines in the beneficiary record (Beny Details data entry screen). Example: The beneficiary is a son of the Decedent and is to receive: A specific (pecuniary) bequest of $5,000 Two joint accounts valued at $1,500 and $500 No portion of the residue Note: The Estate does not intend to take the position the joint accounts are less than 100% includible for Federal Estate Tax, IN and NJ purposes and are deemed ½ includible for PA purposes. (The beneficiary allocation screen shown in the example is for a PA Estate.) Revised 05/04/2006 SECTION II Page 20 of 123

31 Manual Pre-residue Allocation: 1. Create the beneficiary record. 2. Enter $5,000 on line 1 and $2,000 on line 2b. For PA, enter $1,000 on line 2b in the State column and $2,000 for IN and NJ. The Beneficiary receives a total of $7,000 for 706 purposes. The amount on line 11 (column 1) will appear on line 5 of p PA (Schedule J) PA Tax Allocation IN (IH-9) NJ (P. 1) Revised 05/04/2006 SECTION II Page 21 of 123

32 Pre-Residue Allocation: Detail/transaction method This feature is most useful when multiple items are passing to one beneficiary or individual items are passing to multiple beneficiaries. As stated previously, allocation does not affect the accounting and is not a substitute for distribution transactions. Allocation is made in the original transaction and not in a distribution transaction or a Marital or Charitable distribution transaction. This method cannot be used in the Basic mode. Example: Beneficiary is a son of the Decedent and is to receive: A Vanguard IRA in the amount of $8,000 Two joint accounts ($1,500 and $500) No portion of the residue The Decedent maintained a checking account at First National Bank, NA. The date of death balance was $15, Create a beneficiary record. 2. Create a transaction to record the bank account. 3. Click on the Beny Allocation link. Revised 05/04/2006 SECTION II Page 22 of 123

33 4. Click on the Beny Allocation link and select the beneficiary s name from the drop-down list. The program assumes 100% allocation to one beneficiary. If there are multiple beneficiaries, enter the correct percentage allocated to each beneficiary. If 100% of the asset is to be allocated equally to several beneficiaries, click the Allocate ALL in Equal Shares button. If 100% of the asset is NOT to be allocated, enter dollar amounts in the columns for 706 and State Death Tax. 5. Click on the red Refresh Beny Share of Assets (found in the Navigation Panel on the right) to update the beneficiary record. If several assets are to be allocated, you may choose to wait until you have completed all of the entries to refresh the allocations. Revised 05/04/2006 SECTION II Page 23 of 123

34 To allocate the joint assets, follow the same steps as described above. In the allocation shown below, the value of the $1,500 account has been automatically reduced by ½ as it is a PA Estate. At this point, $10,000 has been allocated to the beneficiary for 706 purposes and $9,000 is allocated on the PA State Death Tax Return. The 706, PA Schedule J, IN IH-9 and NJ results would appear as in the previous example. One difference between the two methods (Summary vs. Detail) is the ability to preview a detailed list of allocations for each beneficiary. There are also three reports available to view lists of all beneficiary allocations: View by Assets (706) View by Assets (State Death Tax Return) View by Beneficiary (706 vs. State Death Tax Return) Revised 05/04/2006 SECTION II Page 24 of 123

35 To view 706 allocations for a specific beneficiary, click the gray button to the left of the entry, To view the report for this beneficiary for State Death Tax purposes, click on the arrow button next to the State amount field. The reports for ALL beneficiaries having allocated transactions are accessed by clicking the buttons located in the lower right section of the Beny Details data entry screen. Revised 05/04/2006 SECTION II Page 25 of 123

36 Pictured below are examples of the three reports. (Pre-residue allocation of other assets has been made to the surviving spouse, son, a charity and a sibling.) Revised 05/04/2006 SECTION II Page 26 of 123

37 Residue Allocation Manual (Amount) If the beneficiary is also receiving a share of the residue (or entitled to residue only), enter the total amount (pre-residue and residue amount) on line 11 in column 1 (Federal) and column 2 (State). A new feature allows you to convert dollar amounts entered on line 11 to percentages of the residue. This button now appears to the right of Residue Calc. Automatic (Percentage) Enter the percentage of residue passing to a beneficiary on the Beny Details data entry screen. The program will calculate the value of the beneficiary s interest, taxes allocable to the share and the net amount for 706 and State Death Tax (where applicable) return purposes. Example Gross Residue of the Estate (after expenses and before taxes): $2,000,000 divided as follows: Surviving Spouse 25% Son of decedent: 25% Sister of decedent 25% A Charity 25% There are no pre-residue bequests, joint accounts, annuities or transfers. The amount passing to each beneficiary (before taxes) is $500,000. Note: The example is a PA estate with one exempt beneficiary, a spouse (taxed at 0%), and multiple tax classes. Revised 05/04/2006 SECTION II Page 27 of 123

38 The default result for one beneficiary is shown here. The amount shown here is reflected on the 706 p. 2, line 5 for the Taxable beneficiaries other than the spouse and charity. The amount passing to the spouse is shown on line 4C. 706, page 2 Remember, tax allocation, even of residue, does not produce a Schedule M or Schedule O result. To obtain that result, enter a distribution transaction (discussed in the next section) for each item to be listed on Marital or Charitable deduction schedules Distributions Distribution transactions may be used in three ways: Accounting Fiduciary Income Tax Returns (Residual distributions) Marital and Charitable Deductions (Death Tax Returns) In general All distributions from an estate, whether in kind or cash, specific or residual, are recorded in transactions in the same manner as the receipt of assets, income, and payment of debts and expenses. The classification of the distribution (code used) determines whether the transaction flows to the Death Tax (Marital or Charitable distributions only) or Fiduciary Income Tax returns. A separate transaction is required to distribute each asset (or fractional part thereof) to each beneficiary. Revised 05/04/2006 SECTION II Page 28 of 123

39 Transactions to distribute assets in kind must be linked to the original transaction recording the receipt of the asset to produce correct Account results. Linking is achieved by using the exact same name in both transactions. Failure to link the transactions will result in incorrect Account results on the Principal or Income Balance on Hand Schedule and the Changes in Investment Holdings Schedule. Note: Some States do not have a Changes schedule. Distributions of cash must include a bank disbursement. If no bank name is entered, the distribution will appear on the Account as a negative asset. If a distribution is made for Marital or Charitable deduction purposes only, the account result may be suppressed. Distributions of residue, whether in cash or in kind, are, by default, allocated to the 1041 and State Fiduciary Income Tax returns for the fiscal or calendar year selected for the Estate or Trust. They are imported into the return by clicking on a button at the bottom of the beneficiary screen accessed from the Master K-1. Currently, the Advanced mode must be used to properly complete distributions for Account purposes. If transactions are entered from within the Account module using Input Statements, you will need to modify them using the advanced transaction database layout to specify the bank account from which cash distributions are made and to designate the beneficiary receiving the distribution. Distribution transactions, except as noted in the Tax Allocation Section and below with respect to Marital and Charitable deductions, do NOT affect death tax returns or produce Tax Allocation results. Examples Marital Deduction: Schedule M (706 and OH Estate Tax Return) In this example, the surviving spouse is to receive a total of $500,000 for Schedule M purposes. Although tax allocation has been made, no values appear on Schedule M as a result of the allocation. To produce a Schedule M result, a transaction must be created. In this example, the distribution is made in kind from two assets: ABC Corporation Common Stock having a total value of $400,000; and a Certificate of Deposit owned by the Decedent in the amount of $100,000. The assets have already been entered as transactions. Note: There are no QTIP or circular calculation considerations illustrated in this section. You may wish to review the sections in the 706 Guide pertaining to circular calculations and optimizing the marital deduction. There are two ways to enter a distribution in kind, the simpler of which (for Schedule M or Schedule O purposes only) is to do the following: 1) Click on the 706 button at the top of the transaction screen in any transaction. 2) Click on the Marit/Charit button (green) found in the upper left section of the screen. Revised 05/04/2006 SECTION II Page 29 of 123

40 3) Find the asset to be distributed and that should appear on Schedule M of the 706. Click on the button labeled M to create the transaction. (For Charitable in-kind distributions, click on the C. 4) Distribution transactions are highlighted in green as shown below. To view or edit the distribution transaction, click on the right-arrow button on the left side of the screen. 5) The default date that appears is the date of death. If distribution has, in fact, been made, enter the date of the distribution. Otherwise, enter the any date you choose (not earlier than the date of death). 6) The default code is (specific bequest Non-QTIP). If this is not appropriate, find and enter the correct code. 7) If distribution has actually been made, click on the down arrow button located across from the units field and directly to the right of the text Beneficiary(ies) to select the beneficiary receiving the distribution for Account purposes. 8) If Distribution has NOT actually been made, suppress the Account results by clicking on the down-arrow button next to the Accounting (Principal) field and select 00 [Suppress Result]. 9) By default, the transaction is coded as a specific bequest and, therefore, has no 1041 result. If the code is changed to a residual distribution code, there will be a 1041 result. 8) Click on the 706 button at the top of the page and mark the link checkbox found near the bottom of the screen (just above the gray description area). The second transaction ($100,000 CD) is not shown here. The steps are the same as outlined for the ABC Corporation common stock. The method of creating In-kind distributions for other purposes is described in the Example subsection entitled Accounting: In-Kind Distribution on page 33 of this section. Revised 05/04/2006 SECTION II Page 30 of 123

41 Transaction to distribute stock for 706 Schedule M purposes only Beneficiary Name selected from the drop-down list Default date is Date of Death. The Account result has been suppressed. Schedule M 706 results Revised 05/04/2006 SECTION II Page 31 of 123

42 Entries on Schedule M automatically adjust the values appearing on page 2, line 5 of the 706 when the return is recalculated. If you use the Optimal Marital Deduction feature (See the 706 Guide), the program will automatically create a distribution transaction using the amount determined by the program to be the maximum amount to distribute to the surviving spouse to reduce the Federal Estate Tax due to zero. The transaction will have the name Residual Marital and will also have Account and Fiduciary Income Tax Return consequences that may need to be suppressed in the transaction. Charitable Deduction: Schedule O (706), Schedule J-II B (PA) Schedule K (OH) A transaction to distribute items in kind to a charity would be entered in the same manner as described in the preceding paragraph (Marital Deduction: Schedule M (706 and OH) except you click on the C button to create the in-kind distribution transaction. In this example, cash is being distributed. 1) Create a new transaction. 2) Enter a name for the transaction, keeping in mind that the name should be reasonably short and any lengthy description entered in the additional description field. Since cash is being distributed from a bank account, no link between the asset and distribution transactions is needed. 3) Enter the appropriate code for the distribution ( is the code for a residual distribution to a charity). 4) Enter the amount that is to show on Schedule O. 5) Select the beneficiary from the drop-down list of beneficiaries. 6) If the distribution has not yet been made, suppress the 1041, State Fiduciary Income Tax and Account schedule results. 7) If distribution of cash has actually taken place, enter the name of the bank account from which the funds were disbursed in the Bank Disburse field on the Main data entry screen in Transactions. Distribution of Cash for Schedule O Beneficiary Selected Fiduciary Income Tax and Account schedules suppressed Revised 05/04/2006 SECTION II Page 32 of 123

43 If multiple distributions to a single charity are entered, there will be separate entries on Schedule O for each one. Accordingly, you may wish to create a single transaction per charity for the entire distribution amount and suppress the Account and Fiduciary Income Tax results. For Account and Fiduciary Income Tax Return purposes, create separate transactions to make the actual distributions and suppress the 706 results. If there are both marital and charitable deductions and the Optimal Marital calculation feature is used, transactions will be created for both Schedule M and Schedule O. If distribution has not, in fact, occurred, suppress the 1041, State Fiduciary Income Tax Return and Account schedule results. Accounting: In-Kind Distribution In the following example, the Decedent owned 10,000 shares of ABC Corporation common stock having a date of death value per share of $40. A transaction recording the receipt of the security was created previously. The stock was not sold and is now being distributed in kind to the surviving spouse. 1) Create a new transaction. 2) Select the name of the transaction from the drop-down list adjacent to the name field. Remember, the distribution transaction MUST HAVE the exact same name as the asset. Otherwise, it will not link properly and the Account will not balance ) Select and enter a distribution code. (If you are unfamiliar with the use of codes, please review the Codes portion of the Transaction section of this manual.) 4) Enter the date of distribution ) Enter the number of shares and price per share using the values from the original transaction. (Amount is automatically calculated. 6) Select the name of the beneficiary from the drop-down list. Revised 05/04/2006 SECTION II Page 33 of 123

44 Steps 5 and The completed transaction has 706 results (shown in a previous section), 1041 and State Fiduciary Income Tax consequences (See next section) and Account results (shown below and on next page) Accounting Distribution Schedule Revised 05/04/2006 SECTION II Page 34 of 123

45 Changes in Investment Holding Schedule Account Summary Page Revised 05/04/2006 SECTION II Page 35 of 123

46 Accounting: Copied Transaction When an asset is distributed in kind, it is sometimes easier (and less prone to data entry errors) to produce the distribution transaction using this method. This insures the transactions will link properly for account results. For this example, the same asset (ABC Corporation common stock) is used. 1. Find the original transaction. 2. Copy the original Transaction. (Whether you will want an exact or partial copy will depend on your circumstances. Click on the Question Mark help button next to the blue and red Copy Trans button for more information). Do NOT alter the name of the transaction. 3. Change the code to the appropriate distribution code. 4. Change the date to the date of the distribution. 5. Select the beneficiary from the drop down list. If you are distributing the asset fully to one beneficiary, your work is done. The completed transaction will appear as it does in the example for Method #1. If you are distributing only part of the asset to one beneficiary and part to one or more other beneficiaries, proceed to step #6. 6. If you are distributing the asset to multiple parties (e.g., 5,000 shares to the surviving spouse and 5,000 shares to another beneficiary), change the number of shares. The price per share will remain unchanged and the total will reflect the value for the 5000 shares ($200,000). This completes the first distribution transaction. 7. Now, copy this new transaction and change the name of the beneficiary (e.g., to the son). You have now fully distributed the 10,000 shares of ABC Corporation. The Distribution of Principal and Changes in Investment Holdings Schedules are shown below. Revised 05/04/2006 SECTION II Page 36 of 123

47 Accounting: Cash Distribution In this example, the sum of $400,000 is to be distributed to Maryanna Sample. The funds are disbursed from the Estate s Merrill Lynch CMA Investment Account. 1. Create a new transaction. 2. Enter a new name. Follow the general rules for creating a name for the transaction (keep it short and unique and use the additional description field for more detail if desired). 3. Enter the appropriate distribution code. 4. Enter the date of the distribution. 5. Enter the amount of the distribution. 6. Select the beneficiary name from the drop-down list. 7. Enter the name of the bank account from which the funds are disbursed The completed transaction 7 Revised 05/04/2006 SECTION II Page 37 of 123

48 Distributions, whether in kind or cash, specific or residual, principal or income, have Account results by default. When assets are distributed, the asset is removed from the assets on hand and a change in investment holding is indicated to reflect that the asset has passed out of the Estate or trust. When assets are distributed, if the distribution transaction name is NOT exactly the same as the original asset name, the distribution will appear as a negative amount on the Balance on Hand Schedule and the Changes in Investment Holdings schedule will NOT reflect the change. When cash is distributed, the balance in a cash account is reduced. When cash is distributed, if no bank account name is entered, the distribution will appear as a negative amount on the Balance on Hand Schedule. As discussed in previous sections, distributions made for Marital or Charitable deduction purposes may not have been made at the time the 706 or other death tax return is filed. In that instance, the user may want to suppress the Account results so that an accurate interim accounting may be produced if desired. When distribution is actually made, the distribution transaction previously created may be edited to restore the default Account results or a new transaction showing on Account results may be created. Fiduciary Income Tax Import from Transactions In the foregoing examples, distributions, whether specific or residual in nature, affected the Accounting. Distributions of residue also have Fiduciary Income Tax Return schedule results because income is normally deemed to pass to the beneficiary in proportion to the share of residue he or she received and State Fiduciary Tax Return schedule results are assigned by default when the distribution is coded as residual. The transaction shown below (one of the two residual distributions of the ABC Corporation common stock) indicates it is a Tier 2 (other) distribution. Revised 05/04/2006 SECTION II Page 38 of 123

49 To import this and any other residual distribution transactions into the 1041 (and State returns where appropriate), do the following: 1) Navigate to the 1041 form for the appropriate year using the large gray 6-in-1 button in the upper right corner of your data entry screen. If you have not previously created a 1041 for the entity for the year selected, the program will create one for you. At this time, the program initially assumes a calendar year return based on the year selected regardless of the date of death. If your fiscal year has other starting and ending dates, you will need to change the values for the Date Begin and Date End fields located in the right-hand panel. 2) Recalculate the return. 3) Navigate to the Master K-1 by clicking the K-1 button found in the Navigation Panel (right side of the screen). 4) Click on the yellow Edit Beneficiaries button (near the top center of the screen). 5) Click on the large gray button at the bottom of the screen labeled Refresh Benys from Transactions. 6) The transaction records for residual distributions dated during the time period you indicated in the Date Begin and Date End fields will be imported to the beneficiary database for that year (e.g., 2005). 7) Click the red Recalc button to update the gross distributions. 8) Preview and/or print your Schedules K-1. Preview by clicking the View Individual K-1s button. Print individual K-1s from Preview. Revised 05/04/2006 SECTION II Page 39 of 123

50 Create Distributions in the 1041 Under certain circumstances, you may not have entered distribution transactions and may be preparing a standalone To create distribution records directly in the 1041, follow steps 1 4 outlined above. Then do the following: A blank beneficiary record is automatically created the first time you navigate to the Edit Beneficiaries screen, so you may begin immediately to add the name, address, etc. In either the Tier 1 (required distribution) or Tier 2 (discretionary generally used for Estates) column, you may either enter an amount distributed or a percentage of the residue. Enter percentages as decimals. For example, if the beneficiary is to receive 25% of the residue, enter.25. For additional details, click either blue question mark button located above the column titles for Tier 1 and Tier 2. (See also the additional notes at the end of this discussion). In this example, each beneficiary is receiving 50% of the residue. If there are more beneficiaries receiving residual amounts or percentages, add and complete a beneficiary record for each one. If you use the percentage method, be sure to enter the total GROSS distributions for all beneficiaries in the yellow box in the Navigation Panel on the right. Recalculate the return. Preview and/or print the Schedules K-1. Creating a distribution record in the 1041 or PA-41 does NOT create a record in the transaction database and does not affect the Accounting nor can a distribution created in a Fiduciary Return be copied to the transaction database for inclusion in the Account. Revised 05/04/2006 SECTION II Page 40 of 123

51 Copy Beneficiary Records from a prior return To copy the beneficiary distribution records used in the prior year s return, do the following: Navigate to the Edit Beneficiaries screen in the 1041 for the current year, click the button labeled Import Benys From XXXX (the X s representing the most recent prior year). Additional Notes When using the percentage method to enter distributions in the 1041, the total of ALL distributions, including BOTH Tier 1 and Tier 2 for ALL beneficiaries, must not exceed 1. If the total is greater than 1, the program assumes you are using the dollar method. Always enter the percentage as a decimal (e. g., 15% should be entered as.15). If the percentage method is used, be sure to enter the GROSS distribution in the yellow field in the Navigation Panel on the right side of the Edit Beneficiaries Screen Beneficiary records created in a 1041 are NOT stored in the beneficiary database and will not appear in the drop-down list of beneficiaries in Transactions. Distribution records created in a 1041 do NOT have an accounting result. Distributions created in transactions may be imported/copied into the 1041 if they are coded as residual distributions and if they are dated within the fiscal or calendar year for the Fiduciary Income Tax Return. Distribution records from the prior year s return may be copied into the current year s The copies are exact whether you used the percentage or dollar method If the percentage method was used in the prior return, be sure to enter the correct GROSS distribution amount in the yellow field on the right. The copied records will be exact, including the amount or percentage of Tier 1 and Tier 2 distributions. This feature is expected to be most useful for Trusts where distributions of the same amount (or percentage) occur over multiple years and the user is preparing 1041 s but not the Accounting. Revised 05/04/2006 SECTION II Page 41 of 123

52 Miscellaneous This section briefly discusses some of the other features of the Beneficiary Database that you may find useful. Suppressing Beneficiary Data (PA, IN, NJ, NC, OH) By default, all beneficiaries entered in an Estate appear on all documents available in the application. To suppress the name, etc. for any beneficiary on a specific document, click on the Grid button and click the checkbox in the appropriate column. Beneficiary Shares/706 (Pre-Tax) After beneficiaries have been created and assets entered, this data entry screen provides an overview of category totals, individual pre-tax amounts and percentage of residue assigned. The columns correspond to lines 1-6 of the tax allocation section of the Beny Detail form.. Click on the blue question mark help buttons for a detailed explanation of the buttons in each row of the columns. Note that the several options available to view supporting schedules can be used only when pre-residue tax allocation has been made in the transaction database. The options to view supporting schedules are exactly the same as those found on the Beny Details data entry screen. Tip: In some instances, transfers may be passing to the residual beneficiaries and you may want to force some or all of the total value of the transfers to be treated as a part of the residue for purposes of 706, page 2, line 5 entries. To accomplish that, click into the total field in column 3 (here it is $265,000) and delete the total or enter a zero. As shown below, the residue increases by $265,000. Note that a red (override) block in Column 3 appears. Revised 05/04/2006 SECTION II Page 42 of 123

53 Beneficiary Shares/706 (Post-Tax) From the 706/Pre-Tax data entry screen, you may navigate to a 706 Post-Tax overview. You may need to press the Recalc button in Column 9 to update the State Death Tax total. The columns correspond to lines 6-11 on the Beny Details data entry form. Beneficiary Shares/IN, NJ, PA Although the button will always reflect the domicile of the current Estate or Trust, State Death Tax Pre- and Post-Tax summaries are available only in States having a death tax based on the relationship of the Decedent to the beneficiary. That currently includes Estates domiciled in IN, NJ and PA. Adjustments to totals for State Death Tax purposes may be made as described above. For PA purposes, the totals will be automatically adjusted to include only ½ of jointly held assets and bequests, joint accounts, transfers and percentage of residue passing to surviving spouse are all omitted. The Pre-Tax screen shows columns 1-6 and the Post-Tax screen shows columns Revised 05/04/2006 SECTION II Page 43 of 123

54 706 Page 2 This link does NOT navigate to Form 706. Clicking here navigates to another layout in the Beneficiary database that shows the user the data as it will appear on Form 706. Options on this screen include: 1. Ability to modify the order in which the beneficiaries appear; 2. Include/exclude the beneficiary from the 706 (page 2, line 5); 3. Customize the name for 706 purposes; 4. Include/exclude the amount a beneficiary received in the unascertainable beneficiaries total; 5. Choose to display all beneficiaries on an attachment schedule; 6. Choose to sort by Item number or name; 7. Preview or Print 706, page 2; For additional information, click on the blue question mark buttons Revised 05/04/2006 SECTION II Page 44 of 123

55 PA Sch J/IN Tax Sch (not pictured) These buttons link to layouts providing most of the same features as the 706, Page 2 layout described above. The data will reflect State Death Tax law. Will Details: A Different Approach There are two additional (alternative) methods of entering beneficiary information in the Advanced Mode: Will Details and the Basic Beneficiary data entry screen. The latter is described in Section III, The Will Details data entry screen can be accessed from the large gray 6-in-1 button, General Information and some screens in tax return documents. The Will Details data entry screen has the following characteristics: Beneficiaries may be added but cannot be deleted on this screen. Navigate to one of the other layouts to delete an entry. Tax allocations may also be specified. The beneficiary s address and Taxpayer Identification Number must be entered using one of the other data entry screens. To navigate to the record for a specific beneficiary to enter that information, click on the right arrow button to the left of the last name of the beneficiary. Click on the blue question mark buttons found on the screen for additional assistance. Revised 05/04/2006 SECTION II Page 45 of 123

56 2.05 TRANSACTIONS Advanced Method It is strongly recommended that you read this section of the manual and understand Transactions even if you elect to use the Basic method (Input Schedules). The Basic method has limited functionality and flexibility. If you are preparing an Account for your Estate, you will likely need to work in the Advanced mode, particularly to enter distributions and manage the cash portion of the Account. This section will help you understand how to modify or customize transactions when default schedule assignment in Input Schedules does not address your situation. You should also be aware that transactions, whether entered from the transaction data entry screens or Input Schedules, are both recorded in the same database and use the same fields. Accordingly, the same data entry rules apply to entries in Input Schedules (e.g., the name of the transaction must be relatively short and unique). Before describing how transactions are entered, edited, viewed or deleted, it s important to understand what a transaction really is: Simply stated, it s anything that comes into, passes through, or goes out of, an Estate or Trust or that is subject to taxation, accounting, or administration in any way. That includes, but is not limited to, assets, income, distributions, purchases, sales, dividend reinvestments, redemptions, refunds/reimbursements, debts of the Decedent, expenses, jointly owned assets, inter vivos and post-death transfers, loans to or from an entity and changes in investment holdings (mergers, spin-offs, splits, etc.). Another important function of transactions is the management of cash flowing through the various bank-type accounts used during administration of the Estate or Trust. Transactions are used in all of Lackner s six main modules. There are two ways (Advanced and Basic) to enter and view assets, expenses, sales, distributions, and income and one summary method of entering line item totals (Numbers). The Advanced method of data entry provides the most options, detail, and flexibility. It is the ONLY method that includes all distribution options and management of the cash and cash equivalent accounts maintained during Estate and Trust Administration. Because of the strength and flexibility of the transaction database, the user can generally bend the program results to meet most of the exception to the rule situations that arise. The ability to customize transactions in so many ways to suit a variety of situations and needs brings with it additional options that must be learned. Therefore, we STRONGLY SUGGEST that you carefully review this section before entering transactions using this method. The experienced practitioner will find the time and effort invested to understand this method of data entry will be worthwhile. New Users may initially find the transaction screens confusing due to the large number of data entry fields and buttons. Therefore, the first part of the Transaction Guide describes the screens and how to navigate within transactions. Users migrating from the 6-in-1 Lite and Gold applications may benefit from reading the section describing what is different in the Windows/Mac application. Revised 05/04/2006 SECTION II Page 46 of 123

57 Accessing Transactions 6-in-1 Button It is recommended that you use the large gray 6-in-1 button found in the upper right corner of most data entry screens to navigate to various parts of the program, including transactions. Click on the button and scroll to highlight Transactions, click to select. If you are in a tax form, Inventory or Account, you may prefer to click on the gray Transactions button found in the Navigation Panel on the right side of the screen on the cover or summary page. 6-in-Menu (Hub and Spoke) From the 6-in-1 Menu (Hub & Spoke) screen, click on the Edit Transactions button to view or edit transactions already created and the Add Transactions button if you wish to add one or more transactions at this time. It is suggested that you use the Edit Transactions button to access the database from the Main Menu unless you intend to add a new transaction immediately. The Add Transactions button creates a new blank transaction immediately. Even if you use the Edit Transactions button to access transactions, you may add a new transaction at any time by clicking on the New Trans button. It is not necessary to return to the 6-in-1 Menu (Hub and Spoke) to change from Edit to Add mode. Be sure you have selected the Estate or Trust you want to work with before accessing transactions as you cannot navigate between Estates from within transactions Navigation in Transactions Data Fields Specific to Tax Returns and Documents The Main transaction screen contains the fields necessary to complete most entries. However, some fields are specific to documents and tax returns (such as the co-owner letter(s) for joint accounts or character of charitable organization, for example) and are located on other data entry screens. Additionally, there are three items that may be customized in each transaction: 1) Schedule assignment; 2) Amount; and 3) Description. Schedule assignment may be changed on the main data entry page, but the amount or description for a transaction can only be customized for a specific document or return on the screen for that module. Navigation to these screens is very straightforward. To access module-specific fields or modify the amount or description to be used, click on the appropriate button near the top of the screen. These buttons appear on all of the transaction database screens enabling you to navigate from one to the other directly without returning to the Main page. Revised 05/04/2006 SECTION II Page 47 of 123

58 Click on the button to access data entry fields and customizing options for each module. Note that the New, Copy and Delete functions are available only from the Main screen. All screens contain previous and next buttons to navigate between records. View Documents and Tax Returns 6-in-1 Button As described in various sections of this manual, the 6-in-1 button at the top of the navigation panel provides a submenu with options to navigate directly to tax returns and documents for the current Estate or Trust as well as General Information, Beneficiaries and Probate Forms. Shortcut method From any transaction data entry screen, hold down the <alt> key and click on the module button to view the Tax Return or document for that module. In some cases, you may need to recalculate to view an updated document. Once you are in the document, you will be able to navigate to schedules, view, and print all or part of the document. To return to the transaction database, click on the Transactions button located in the Navigation Panel (right side of the screen). <Alt> <click> Return to transactions Revised 05/04/2006 SECTION II Page 48 of 123

59 View Schedules (Shortcut method) From any transaction data entry screen, hold down the <shift> key and click on the module containing the schedule you want to view. A drop-down submenu listing all schedules for which there are supporting transactions appears. Highlight and click on the schedule to be viewed. When the schedule appears, you may view or print it. You may also navigate to the previous or next schedule for that module by clicking the previous and next buttons on the right side of the screen. Click the Go Back button to return to transactions. <Shift> <click> Return to transactions View previous or next page of the schedule (if available) View previous or next schedule (if available) Print the schedule History To view a list of all transactions (or a limited set thereof), click the History button found on all of the data entry screens. It is located on the left side in all cases, but, on some screens, will appear in a different location (nearer the center of the screen but still on the left side). Use of History and its features are described in the Reports Section (at ) of this Guide. Revised 05/04/2006 SECTION II Page 49 of 123

60 Ledger The Ledger is used to reconcile cash accounts against statements you may receive. This button is found in the upper left section of the Main data entry screen and on the Banks screen. This feature is described in both the Reports and Cash Management Sections of the guide. Bank Details Click on the Banks button at the top of any of the data entry screens in transactions to verify the cash results of a transaction. Reports A separate Reports menu from which all reports can be accessed by clicking on the R in the upper right corner of the data entry screen is under development. Until this feature is fully activated, reports can be accessed via buttons on the module-specific transaction screens. Please review the Reports Section for more information Transaction Screens Descriptions Below is pictured the primary (MAIN) screen. Most of the data entry can be completed on this screen. Options include specifying the schedule result for any module available for the current Estate or Trust. You may alter the way a transaction behaves (place it on a non-standard schedule or even exclude it from a return or document) by changing (or eliminating) the default schedule assigned by the Code. Other modifications (amount or description for a specific module) can be made by navigating to the data entry screen for that tax return or document and making changes there Revised 05/04/2006 SECTION II Page 50 of 123

61 1 Main Screen Most data will be entered on this screen. When this button is gray (as shown above), click on it to navigate to the main screen. If the button is blue, you are already there. The main data entry screen is illustrated above. For the majority of transactions entered, you should be able to complete data entry on this screen and not need to navigate to the other transaction screens, particularly if the transaction is straightforward. The module-specific screens (described in the following paragraphs) contain fields for information specific to the module as well as override fields to adjust the amount, description, and schedule assignment. Each also contains a searchable list of transactions for that module Data Entry Basic transaction information is displayed on this screen as well as 706 schedule-specific data fields and options for the current transaction. Fields needed for Schedule E-2, Schedule K-1, Schedule O, and Alternate Valuation (if elected) entry are found on this screen. Use your <page up> and <page down> keys to view different sections of the screen. Navigate between records Find transactions using the list Access Marital/Charitable, IRD, Alternate Valuation and Search Screens Enter schedulespecific values here Select a Schedule here to view transactions appearing on that Schedule 706 Transaction Reports Data entry fields in this area vary according to the particular State s requirements Use the <page> <down> key to view this area. 3 State Death Tax (XXD) Screen Currently, this screen is available for estates domiciled in PA, IN, NJ, and OH. In the sample screen (next page), the domicile is PA, hence the PAD label. (The D stands for Death Tax Return). In general, the Schedule assignment, amount and description for State Death Tax Return purposes may be modified. Due to variances in State law and form requirements, the fields appearing on this screen (and the options available) differ widely. Accordingly, further description Revised 05/04/2006 SECTION II Page 51 of 123

62 of this screen is detailed in the documentation for specific State Death Tax Returns (available separately to licensees of that State s Death Tax Return software). Please note, documentation for some States is still being drafted and will be posted on our web site as soon as it is completed. This screen is not available in states having State Death Tax Returns that do not require supporting schedules or permit variations between the 706 and State Death Tax Return. Navigate between records Use the List to view specific items Search Data Entry fields and options in this area will vary according to the State Death Tax Return requirements. History State Death Tax Reports Click to select a specific schedule s transactions Screen This screen is used for entry and modification of 1041 form-specific data. Options include, but are not limited to, modification of the tax date, amount, schedule assignment, and description that appears on the supporting schedules. Data entry fields appearing in the center area will depend on the code/schedule selected. For example, if the transaction is the sale of an asset, fields to enter the expenses of sale and basis will appear. Search Use the list to find specific transactions Fields appearing here are based on the code assigned to the transaction. History Click to select transactions appearing on a specific schedule (may be limited by year) 1041 Reports Revised 05/04/2006 SECTION II Page 52 of 123

63 5 State Fiduciary Tax Return Most State Fiduciary Tax Returns are based on the 1041 and the button to navigate to this screen will be blank. If the screen is available, it will appear basically as shown below and will contain many of the same options as the 1041 screen. Search for transactions Search History Fields and options will vary based on code selected and State of domicile. State Fiduciary Reports View by Schedule and Year 6 Inventory Options specific to the Inventory module are found on this screen. They include, but are not limited to, modification of schedule assignment, amount, description and option to include the CUSIP number on the Inventory and Account. For NC, OH and WI Estates, additional options will appear. Some sorting options are available. View other records Search for transactions by name Search State-specific Inventory options will appear in this area History Find transactions by schedule Inventory Reports Revised 05/04/2006 SECTION II Page 53 of 123

64 7 Accounting Options include, but are not limited to, customizing description, amount, sort sequence and schedule assignment as well as the option to split income and principal where appropriate. The current value of an asset may also be entered on this screen. Use List to find transactions Search History View Transactions by Schedule Accounting Reports Use the <Pg Dn> key to view this portion of the screen and customize the description. Use the <Pg Up> key to return to the top of the screen Revised 05/04/2006 SECTION II Page 54 of 123

65 8 Banks Management of the cash flow and distribution are accounting functions. Incomplete or inaccurate entry of bank information is the area most likely to create a problem when balancing the Accounting. For this reason, the Banks screen has been designed to assist you with this very important function. Bank details (itemized statements separating principal and income) and summary (all cash accounts) reports are accessed from this screen. (See also the description of the Ledger in Bank Reports for more tools to facilitate balancing your Account.) History Select Bank for Bank Details Report Ledger List of Bank Names and Balances Select Accounting Schedule View Bank Details Report Note: Button may be labeled Disburse or Deposit based on the transaction being viewed Summary Bank Report (All Banks) 9 Records Information This is for the user s information only. It indicates which record of the found set is being viewed, how many records are in the found set and the total number of transaction records for the current Estate or Trust. A Found set is a group of records all of which match the search criteria either entered by the user or applied automatically by the program. In this instance, five records were found that matched the search request to find all bank records for the M & T Bank Account #12345 (displayed on the Banks screen above) Transaction List (Sort and List Options) An Estate or Trust may have hundreds (or even thousands) of asset, expense, income and distribution items. Therefore, it is important to be able to quickly find one or more specific items or groups of transactions. The navigation panel on the right side of the transaction screens provides several ways to simplify the process of locating the transactions you want and navigating to them. Once you ve located the desired transaction, click on it in the blue list to view it. Aids to locating transactions on this screen include options to sort and to limit the list in the blue area on the right side of the screen. Revised 05/04/2006 SECTION II Page 55 of 123

66 Sorting Options Sorting Options include: Sort by Date Sort by Name Sort by Amount (Ascending, Descending, N/A) Sort by Date Click on the radio button (circle) labeled Date located above the list of transactions to sort the transactions by date. The name of the transaction does NOT appear when this option is selected and transactions appear in ascending date order. Scroll through the transactions to find the date and amount you are seeking and click on the line item entry to view the transaction. This option may also be used with a limited transaction list. Sort by Name Click on the radio button (circle) labeled Name to sort the transactions alphabetically (ascending order). Scroll through the transactions to find the one desired and click the item entry to view it. If you have many transactions and the name you are seeking is not visible in the list, you may find using the option to limit the list to a specific letter of the alphabet or name of a specific entry helpful to use in conjunction with this option. Sort by Amount Transactions may also be sorted by amount in either ascending or descending order. When there is no line above or below the Amount field, sorting is by name or date. To sort in ascending order (from smallest to largest amount), click on the word Amount once. A red line will then be visible below the word Amount and the transactions will be sorted in ascending order. Click the field again to sort by descending order (from largest to smallest amount). The red line will now appear above the word Amount. To restore the sort order to Name or Date, click on the word Amount again and the line will disappear, indicating no option to sort by amount is currently selected. Sorting by amount is a useful search technique if the amount of the transaction is very large or very small as it will likely sort to the top of the list. Revised 05/04/2006 SECTION II Page 56 of 123

67 List Options List options include the following: Show only transactions for one name Show only transactions beginning with selected letters (or numbers) Show ALL transactions Show Only Transactions for One Name To do this, click on right side of the red and blue Button labeled List and select a letter from the list. The list will show each different first letter of transaction names you have used. In the example shown, the letter A was selected. The pop-up list that appears includes only the transactions you have entered that begin with the letter A. Scroll to highlight the name and click to select it. In this example, the transaction list will now show a limited list of only transactions having the name ABC Common Stock. To view a specific transaction, click on it. Once you have selected a name, that name will appear in the large yellow box and the first letter of the name selected appears in the smaller yellow box. ONLY THOSE TRANSACTIONS having the selected name will appear in the list until one of the following occurs: 1. You click the Show All button; or 2. You change the selected transaction name as described above. [Balance of this page is intentionally blank.] Revised 05/04/2006 SECTION II Page 57 of 123

68 Show Transactions Beginning with Selected Letters (or numbers) To view a limited list of transactions beginning with 1-3 letters, enter the letter(s) in the large yellow box in the Navigation Panel and <tab> to exit the field. In this example, an A was typed into the box. If you are uncertain of the first couple of letters of the name of the item(s) you are trying to find, click on the Show All button to clear the large yellow box. Then select the item from the list of ALL transactions that appears as illustrated here. (Use your mouse or <down> arrow key to scroll through the list.) Note: This option may not be practical to use when the number of transactions in your Estate or Trust is very large. Show ALL Transactions Click on the Show All button to restore the complete list of transactions in the viewing area. Revised 05/04/2006 SECTION II Page 58 of 123

69 Search Options Search Layout In addition to the sort and list option functions described in the foregoing section, you may search for transactions using any field or combination of fields found on the Main transaction data entry screen. To access the search layout, click on the green button labeled Search found on the lower left side of the Main transaction data entry screen. To search for one or more transactions, complete any field or combination of fields and click on the button labeled Perform Search. Use the down-arrow buttons to rapidly select items from the list and insure correct spelling. If no transactions are found that match your criteria, you will see this message: Click the OK button to return to the search layout. Use the Clear Search Criteria button to start over again. Revised 05/04/2006 SECTION II Page 59 of 123

70 If matching records are found, the program returns you to the Main transaction data entry screen to view, edit, or delete the found set of transactions, i.e, transactions that matched the search criteria. Use the and buttons to navigate between records. The record currently being viewed and the total number of transactions matching your find request is shown in red. In the example shown above, there are five records in the current found set of ABC Corporation records and record #1 is being viewed. Clicking on any item in the Navigation Panel on the right side of the screen restores the entire record set. History Accessed from the Main transaction data entry screen, the History screen provides a complete list of transactions for the Estate or Trust, sorted by date. You may limit the list being viewed to transactions names begin with certain letters (up to three characters may be entered) or you may view only transactions having a particular name by selecting it from the drop-down list next to the name field. This report may also be printed. The form also allows you to enter or modify the basis for Account or Income Tax purposes (toggle between Accounting and Tax and Accounting by clicking the blue History button). Click on the right-arrow button to view the details of the selected transaction (clicking returns you to the Main transaction data entry screen). Revised 05/04/2006 SECTION II Page 60 of 123

71 Tax or Accounting Schedule You may also search for (or view) transactions by schedule. The module-specific transaction screens contain two transaction lists in the Navigation Panel on the right side of the screen. The upper list is sorted automatically by schedule, may be limited to transactions having the same name or names beginning with the same letters or numbers and may be optionally sorted by amount (ascending or descending order). The second transaction list (located in the lower portion of the Navigation Panel) provides an additional method to limit the transactions appearing on that list to those matching the schedule selected. Clicking on the word Amount just above the second list produces the same results as clicking on the one near the top of the screen in the Navigation Panel. To select a specific schedule, click on the drop-down arrow to view submenu of schedules for the module. Scroll the list to highlight the schedule and click to select. The transaction list on that screen will then be limited to transactions assigned to the same schedule or sub-schedule. Clicking on 00 (Suppress Result) or 11 (Reset to Default) has no effect on the list. If you do click on either of these two options, a No Records Found message will appear. Click OK on the message to return to the data entry screen and select a sub-schedule. If you select a schedule for which you have NO supporting transactions, you will also see the No Records Found message. The 1041 screen has an additional option to view all transactions for the selected schedule or only those having a tax date within a specific tax year. For States having State Fiduciary Tax Returns requiring supporting statement schedules, the option described above for the 1041 screen also appears. If you have limited the upper list to transactions having a specific name or beginning with a series of letters or numbers, the lower list is automatically limited to the same set of transactions. If, for example, you are viewing a list limited to transactions named ABC Corporation Common Stock and you have no transactions for that item that appear on the 1041, you will see the same No Records Found message described above. Revised 05/04/2006 SECTION II Page 61 of 123

72 Reports Asset History This report is available by clicking on any History button. To view or print an asset history report, click on the drop-down arrow left of the name field and select the asset. To print the report, click on the Print This Page button. The report sorts by date (in ascending order). Options include: View/Print entries for one transaction name View/Print entries for all transactions starting with the same letters and/or numbers (up to 3 characters) View/Print ALL transactions View/Print report showing basis for both Account and Tax purposes (default is Account basis only) View/Print only sale transactions Reset the basis for one transaction or all (History screen only) One-button click to view the details of a selected transaction Limit the list by entering up to 3 characters here. Click Clear to show all. Click here to view list Click to view basis for Accounting AND Tax Click for help and information Print the report Click to view transaction detail Click the gray box to reset the basis for that transaction. <Shift> + click to reset the basis for ALL sale transactions View only sales Printout of report Revised 05/04/2006 SECTION II Page 62 of 123

73 Bank Balance (ALL Banks) This is a summary report showing the balances for all of the banks broken down into principal and income. To access this report: 1) Click on the Banks button at the top of all transaction data entry screens. 2) Change the end date (if necessary) 3) Click on the Display Balances (All Banks) button to view the report. This button does NOT refresh summary balances. It updates the balance of the bank account used in the current transaction for the bank fields displayed at the bottom of this screen. Change the End Date if necessary 4) Print the report (if desired) by clicking on the Print Options This Page text in the Navigation Panel. 5) Click the Back button to return to the transaction data entry screens. Revised 05/04/2006 SECTION II Page 63 of 123

74 Bank Reports There are two types of detail bank reports: Bank Details Report 1) From any transaction data entry screen, click on the Banks button. 2) Click on the square drop-down button located just below the 6-in-1 Menu button to show a list of banks available. 3) Scroll the list to highlight the desired bank and click to select it. 4) Change the Begin and/or End date if necessary to view a bank statement for a specific period. 5) In the lower left corner of the screen, there will be either a Deposit or a Disburse button (gray). Which one appears is determined by whether the transaction being viewed is a deposit or a disbursement. Click the button. Note: In cases of a bank transfer, BOTH buttons may appear. If the transfer is between DIFFERENT accounts, click on the button next to the bank name you want to view. 6) Print the report by clicking on the Print Options This Page text. Click the Go Back button to return to the data entry screens Revised 05/04/2006 SECTION II Page 64 of 123

75 Bank Report (Details with multiple options) This bank ledger report provides many options including: Date range for various periods (month, year, manually entered dates) View by deposits and disbursements or by principal and income Reconciliation panel Multiple sorting options (Balance will only show if transactions are sorted by date. Otherwise, a running balance would be invalid and meaningless) Ability to change bank being viewed Click on the Ledger button that appears on the Main and Banks screens. 1) Select the bank to be viewed. 2) Set the sort option. If you want to view a balance, remember to sort by date! 3) Set the date range (or click on the month and year buttons to establish the range of transactions to be viewed). 4) Perform reconciliation tasks as necessary. (Click on blue help buttons for assistance with this feature.) 5) Change the display option to Principal/Income if desired (default is Deposit/Disbursement). 6) Refresh the balance as needed. 7) Print the report. If you have a partial line printing problem, choose one of the two pixel options. Click the blue help buttons for information and instructions. 8) Repeat the foregoing steps for each bank report to be viewed/printed. 9) Click on the Main button to return to the main data entry screen [Sample report appears on the next page.] Revised 05/04/2006 SECTION II Page 65 of 123

76 Schedules (Account or Tax) The easiest way to produce a report of a particular Accounting or Tax Schedule is to view the schedule. View Schedules from within the Module and select Print This Page or use the shortcut method to view and print schedules. Sorting Reports (Account or Tax) The procedure is the same for all modules. Here the procedure to view and print a sorting report for 706 schedules is described. 1) Click on the button to navigate to the data entry page for the module (706 in this case). 2) Click on the button labeled Find 706 transactions (text on buttons will depend on the module selected). To view a sorting report for ALL transactions for the module, select Find All from the submenu. To view a specific schedule, select one. Note: You will not SEE anything happen on your screen. The screen will only blink twice. 3) Click on the 706 Sorting Report to view the results. Note: Sorting options are available to you in this report. Please click the blue help buttons for a description of options. 4) If you choose a sorting option or make changes, click the Re-sort button to see the results. 5) Click the Print Preview button to preview or the Print button to print the report. 6) Click the back button to return to the 706 data entry screen. [Screen shots for this example appear on the next page.] Revised 05/04/2006 SECTION II Page 66 of 123

77 Illustration of the steps to access the 706 Sorting Report (described on the preceding page) Revised 05/04/2006 SECTION II Page 67 of 123

78 Variance Report (706/State Death Tax) A variance report is available from the 706 data entry screen and, where appropriate, from the State Death Tax data entry screen. If you have customized amounts on either the 706 or the State Death Tax Return, you may wish to view this report. To access this report, click on the 706 (or State Death Tax Return button, if appropriate) located at the top of the data entry screens. Click the Variance Report button near the bottom left corner of the screen. View and/or print the report. Options for this report include the ability to view date of death values or Alternate Values. Ohio will have the option to view Ohio Date of Death or Alternate values. The report may be printed. Click the Back button to return to the data entry screens. Select Return Click to view report Return to data entry screens Preview/Print Options DOD/Alt Val Other Reports As other reports become available the documentation will be updated via an Addendum to this section. Revised 05/04/2006 SECTION II Page 68 of 123

79 Data Entry in Transactions Required Fields (Main Data Entry Screen) Many transactions can be entered completely on the Main data entry screen using standard codes. The additional screens (such as the 706, State Death Tax, Inventory, etc.) are provided to permit you to customize the transaction as well as to complete form or schedule-specific fields required for those returns or documents. The transaction method of data entry offers the most options and flexibility, particularly for complex situations or for precision. There are a few basic rules for successful use of the transaction database and, if they are followed exactly, the results will be well worth the effort. PLEASE NOTE: The 6-in-1 application is designed to simplify your work but it cannot replace the need for understanding Estates and Trusts and their administration. Successful use of the transaction database requires a working knowledge of the laws governing Estates and Trusts. The 6-in-1 application is based on the concept that an item (asset, expense, income, distribution) entered in the transaction database should flow to all appropriate documents and returns. To achieve that goal, it is necessary for the user to provide the essential information, that is, complete the required fields. The fields that are REQUIRED are as follows and are highlighted in the sample real estate transaction below: 1. Name 2. Code 3. Date 4. Amount 5. IRD Indicator (if the item is to be treated as such) Revised 05/04/2006 SECTION II Page 69 of 123

80 1 Name (Required) EVERY TRANSACTION MUST HAVE A NAME. Enter the name of the item here. It can contain almost any combination of letters and characters desired, but the first character should not be a space, hyphen, or other non-standard symbol or ascii character. DO NOT enter multiple lines with carriage returns in the name field. Entries that are too long will be truncated. Use the additional description field (white field just below the name field) to provide additional information. The Name field is used to link related transactions. The name must be EXACTLY the same name when used in related transactions (e.g., the acquisition of an asset and its subsequent disposition by sale, distribution or otherwise). IMPORTANT: The name used should not exceed a total of 43 characters in length, especially if there are multiple items similarly named. Failure to adhere to this limit may result in a conflict with other transaction names that are IDENTICAL within the first 43 characters. FileMaker (the database tool used to design this application) indexes only 60 characters (6-in-1 uses the other 17 characters) and ignores any differentiation in characters existing after that point. Specifically, if the first 43 characters of the name of the item are exactly the same as another item, you may find that an accrued income item you want to show directly below the asset to which it attaches may not appear as you intended. For example, suppose you have two Certificates of Deposit at the same financial institution and have entered a long name that exceeds the limit and the name is the same for the first 43 characters. The only difference between the two entries is the number of the CD and that number does not appear within the 43 characters. Further, assume that both CDs have IRD (accrued interest in this case) associated with them. One CD has accrued income of $ and the other, $ The result on Schedule C of the 706 is shown on the next page. Note that both IRD items have sorted below the second CD and the item reference number for the first amount ($275.00) is incorrect. This should be item 3 and should appear underneath the $100,000 CD. The Inventory result (not pictured) is the same. Shorten the name or make sure that some part of the name within the first 45 characters is different (adding spaces won t work) or use the Lot # field next to the name field to distinguish between multiple items. The Lot # field permits entry of a number (maximum of three digits is recognized). Using the last three digits of an account number will simplify the search for the name. Revised 05/04/2006 SECTION II Page 70 of 123

81 Generally speaking, to insure proper sorting for all items and avoid conflicts, it is wiser to keep the name field short and use the additional description field for any extra information you want to include. The additional information field is NOT used to index the transaction name and it may contain as much text as is necessary to fully describe the item. 2 Code (Required) EVERY TRANSACTION REQUIRES A CODE. If there is no code, the transaction will NOT appear as expected. The correct use of codes is extremely important. It is the code that controls whether or not the item is correctly (or incorrectly) directed to the relevant tax return or document on which it belongs. Working from the transaction data entry screens provides the user with the ability to explicitly specify what is to happen with respect to any item entered. The initial code selected sets the default results for the various modules. You may modify the schedule result for any module as is necessary to correctly handle your situation. The code is entered here. Entering the Code 1. Type in the code if you know it. If not, it may be found by using one of the look-up methods described below. When you look up a code, the number sometimes appears with additional zeros that are, in fact, not used but appear as padded numbers so that the columns in the list line up. For example, when you view a list of codes for Real Estate, the code for Real estate In-State (3) appears as Suggestion for new users: You may want to create a list of top 10 codes you probably will use the most often. For example, a basic list for Estates might include the following asset types: Cash (in a bank account) 8.3 Cash (in possession, e.g., money in a drawer) 8.1 Certificate of Deposit 8.10 IRA (Named Beneficiary) 12.1 Listed Stock 4.1 Money market account 8.16 Mutual Fund 8.14 Personal Property (Tangible in the State of Domicile) 9.1 Real Estate (situate in the State of Domicile) 3.0 Series E/EE/H/HH Bonds 5.11 You may also want to create a similar list for common expenses and distributions. Generally, users memorize the most common codes in a short time, but lists can be a timesaver when first using the program. 2. Look up the code using the Categories, Keywords, or Code Details method. Revised 05/04/2006 SECTION II Page 71 of 123

82 Finding a Code There are several methods of finding a specific code. A detailed explanation (and illustration) of code selection results follows the description of methods of finding the right code. Categories Method The Categ button is illustrated below (The Categories button works the same way.) The place you click on the button you click (left half or right half) determines which type of list you will see first. Both produce the same final results. For example, click on the RIGHT half of the Categ button to bring up a submenu of single letters representing the first letter of one or more keywords. Select a letter from the submenu. For example, if the keyword begins with an R (Real Estate, for example), highlight and click on it. A list of categories whose names begin with R then appears. From the list, select the appropriate category. From the submenu that appears, select the code for your transaction. Clicking on the LEFT half of the Categ button produces a long list of categories. Scroll the list by clicking on the arrows at the top and bottom of the list. Select the category, view codes available and select the appropriate one. Revised 05/04/2006 SECTION II Page 72 of 123

83 Keywords Located near the center of the Main transaction data entry screen, the Keywords button functions the same as the Categ and Categories buttons. That is, click on the LEFT half of the button (blue text) to view a complete list of keywords available. Click on the RIGHT half of the button (red text) to view a list of letters representing the first letter of the keyword. The list produced by clicking on the Keywords button consists of an extensive list of subcategories, many of which actually return the same code, e.g., the same code options are returned for automobile, SUV, and jewelry, among other keywords describing tangible personal property. As shown below, the code result is the same. Code Details Click on the Codes Detail button to access the screen shown below. To find the code for a stock, for example, click on the S. A list limited to all keywords for codes beginning with the letter S appears. In most cases, the entire list will be visible, but if it is not, use the scroll bar on the ride side to view more keywords. Click on the keyword for the code desired to highlight and select it. Here the keyword Stock is highlighted. Select the code and click on the Back button to return to the data entry screen. Revised 05/04/2006 SECTION II Page 73 of 123

84 Although the list indicates the code is , the code that is actually entered and shown on the data entry screen will be 4.1. Currently, codes having only one digit after the decimal are padded with a leading zero for display purposes. Vertical bars serve as visual separators between the code, category and subcategory (if any). The core code and default schedules affecting various modules will automatically be entered and the category and subcategory names will be displayed. As shown below, Listed Stock, by default, is assigned as follows: Schedule B for 706 purposes Schedule B for PA Inheritance tax purposes (Schedule will differ according to the State) Schedule A for Inventory purposes Schedule A for Account purposes Because it is a principal asset (does not represent income), there is no Fiduciary Income Tax Return result. Also, because the code is for a stock, the type has been automatically entered as SL (abbreviation for Stock Listed ). This causes the word shares to be added to the full text description. The Type of transaction controls certain behavior of the transaction. It determines whether the word shares appears for a security, for example. Selecting any type of Bond controls the formatting of the units, e.g., $50,000 as the face amount of a bond rather than 500 units. The number that appears in the Schedule assignment (e.g., the 1 in the B_1) indicates the numerical group placement (sorting sequence) to which it is assigned for sorting within a particular schedule. All listed stock, for instance, is, by default, displayed first followed by stock that is closely held and then the bond categories. Revised 05/04/2006 SECTION II Page 74 of 123

85 Customizing a Code Result Once a code is selected, you may change the Schedule for any module by clicking the down arrow button next to the module name and highlighting and selecting another schedule or line number. Below is pictured the resulting list of 706 schedules that appears when the down arrow is clicked. Use your mouse cursor or the <up> and <down> arrow keys to scroll through the list, highlight the schedule on which you want to show the item and click to select it. The change will be reflected on the data entry screen and a red block will appear next to the category. The red block indicates an override of the default code assignment. Note: As it is unlikely the schedule assigned to a Listed Stock would be changed, no sample result is shown here. An illustration of the override does appear in the next paragraph (suppression of code results). Suppressing a Code Result In addition to an occasional need to change the schedule on which an item appears, it may sometimes be necessary (or appropriate) to remove an item completely from a Tax return or document. To prevent a transaction from appearing on a specific document, select the 00 [Suppress Result] option from the Schedule List. Here the 706 result has been removed. The schedule assignment now indicates None and the red override block is visible. 3 Date (Required) EVERY TRANSACTION REQUIRES A DATE. If there is no date, the item will not appear. Use four-digit years for all dates. Although this would generally apply to a trust rather than an Estate, note that FileMaker assumes that a two-digit year that falls outside of a 10-year range of the current year (e.g. 89) is a year in the 21 st century. If you enter 2/5/89, the result will be 02/05/2089 and not the 1989 you wanted. If you attempt to enter a date here that precedes the date of death, a red block will appear. Use the date of death for pre-death transfers. Asset transactions default to date of death. Expenses and debts default to the date of the last transaction entered. Format of Date In general, you should use 4-digit years. Enter dates in m/d/yyyy format. You will need to enter a date separator - slashes (/) or dashes (-). Leading zeros (e.g., 01/03) are not needed. The program will add them. If the date that you are entering is within the current year, you do not need to enter the year. Revised 05/04/2006 SECTION II Page 75 of 123

86 4 Amount (Required) With very few exceptions, an amount is required for each transaction. Exceptions include, but are not limited to, stock splits and Header transactions. If the asset has no value, enter a zero. It is not necessary to type the thousands separators (commas). For even dollar amounts, it is not necessary to type the decimal and following zeros. For death tax purposes, the value of assets entered in this field would normally be the date of death value. Modification or adjustment of an amount for alternate valuation and other specific purposes is made on other screens. (See also and for a description of the use of the other form and document-specific screens accessed from the Main data entry screen.) With respect to securities and unit-type investments, the following applies: Enter the number of units/shares and the price per unit/share. The program will calculate the amount. If the price per unit/share is not known, enter the number of units/shares and enter the amount. Click on the Set Price button next to the price field and the program will then calculate the price per unit/share. The amount is rounded to two (2) decimal places. Bonds are valued in units of 100 on the various Exchanges. To properly calculate the amount, divide the face value of the bond by 100 and enter that number in the number of units/shares field instead of the face amount. For instance, if the face value of your bond is $50,000, enter IRD If a transaction is classified as IRD (Income in Respect of Decedent) and is to be attached to (appear just below) the item to which it applies, the IRD checkbox must be marked. This is normally accomplished through code selection but see the next section for exceptions. When the box contains an X, the description for that transaction will read Accrued Income on Item ** through date of death for interest items and Accrued Dividend on Item ** through date of death for a transaction coded as 18.3 with the IRD checkbox marked. On all tax returns and documents, the asterisks (**) will be replaced by the Item Number assigned to the related asset transaction. Pictured immediately below is the resulting full description for 706 purposes (IRD Interest item). (See the next page for an example of an accrued interest transaction for 706 Schedule C purposes.) Revised 05/04/2006 SECTION II Page 76 of 123

87 This is how the item will appear on the tax return (Schedule C of the 706 in this instance): IRD Codes Some codes are expressly for use with IRD transactions (such as accrued interest) and the checkbox is automatically marked. Other codes may represent transactions that are potentially IRD items. In that instance, the IRD checkbox appears but is not automatically marked. There can be situations where the program does not recognize that a transaction may be treated as IRD. For instance, a jointly held asset may have accrued interest associated with it. The code needed to insure the asset is included on Schedule E-1 or E-2 is generic, that is, the nature of the property (cash, real estate, personal property, etc.) does not matter. Its classification as jointly owned property does. Click on the IRD Y/N checkbox on this screen. Also, note there is an IRD report available by clicking on the IRD link in the upper left-hand section of the screen (pictured below). REMEMBER: To insure proper treatment of an IRD Item: Use the EXACT same name for the IRD transaction as that used for the transaction to which it applies. The name should be unique and contain less than 45 characters. (Both of these are discussed in detail in the Name paragraphs above.) Put an X in the IRD Y/N checkbox (Click on the checkbox to select the option) if there is not already an X in the checkbox after entering your code Customizing Transactions (Module-Specific) Completing the required fields on the Main data entry screen will likely be sufficient for most transactions and no customization will generally be necessary. However, there are circumstances under which the user will want to modify a transaction to suit a specific purpose or because additional information is required for a particular document (such as joint owner information or Alternate Valuation on the 706). Therefore, the Windows/Mac 6-in-1 application has data entry screens dedicated to each of the modules. Options to customize transactions for each of the modules in multiple ways are discussed in this section. Entering joint owner information is illustrated in ,, Example 4. Alternate Valuation is described in the 706 Guide. Revised 05/04/2006 SECTION II Page 77 of 123

88 Items that may be customized in Transactions in each module include: Code (Schedule or line number) assigned to the transaction Amount Full Description Name and Additional Description separator The above listed options are also available on the State Death Tax Return, 1041 U.S. Fiduciary Income Tax Return, State Fiduciary Income Tax Return, Inventory and Account. The fields are located in the same position on all screens Schedule or Line Number The schedule on which the transaction is to appear may be changed or, if appropriate, coded NOT to appear on a return or on an Account or Inventory [00 Suppress Result]. To select a different schedule or to remove the item from any of the form-specific data entry screens, click on the button next to the Schedule field. Scroll the list using the mouse cursor or the <up> and <down> arrow keys to highlight the desired one. Click on the highlighted item to change the code. 2 Amount The amount (value) included on any return or document may be different from that used for any other document. Change the value in this field if appropriate. Here, for illustration purposes only, the value for 706 purposes has been changed to $172,000. Note the red block to the left of the amount. This indicates that the default value ($175,000) has been overridden by the user. It will affect ONLY the value shown on that form or document. 3 Full Description The content of the Full Description field will appear on the tax return or other document. By default, it is a combination of the Name and Additional Description fields separated by a hyphen (-) and, unless modified, will be exactly the same on all forms and documents. If the transaction is a type of security, the field will also contain the number of shares or units or, in Revised 05/04/2006 SECTION II Page 78 of 123

89 the case of a bond, the face value at the beginning of the text. This field may differ in content on different forms. DIFFERENT: There is no arrow to the right at the bottom of the visible field to indicate there is more text than is visible. NEW: The separator that is used between the Name and Additional Description fields may be changed to something other than a hyphen (-). (See No. 4 below for details about this often-requested new option.) Pictured here is the lower left portion of the 706 data entry screen. Note: The same options are also available on the other tax and document forms. The Find and Sorting Report options are discussed elsewhere. Full description field The large gray field that contains the full description (the transaction name and additional description) changes to a blank field when you click the Edit button. You may enter whatever text you prefer to use to describe the particular item. Editing changes to the full description field do NOT affect the name of the transaction itself or the default content of the additional description field. The modified description will override the default assignment of the full name + additional description with respect to what is displayed on the selected form only. If you change your mind and want to restore the default full description, click the Reset button (described in a subsequent paragraph). CAUTION: If you alter the transaction name in the yellow text box on ANY data entry screen, it will modify the transaction name for all modules. If you decide you want to change the name field itself, be sure to update the name in ALL transactions related to this item as well. Failure to do this may produce an Account that is not in balance and will affect sorting. Clicking the Initialize to Default button sets the full description field to the transaction name and additional description field contents and places your cursor in the field so that you may directly edit the existing contents. (Note that if the transaction is a type of security, the number of units or shares or face value of a bond is added to the name field.) The difference between selecting the Edit button and the Initialize to Default button is that the former contains no text at all (you are starting over completely with a blank description field) while clicking on the latter button retains the existing default description text and permits you to edit some or all of it as desired. If you have modified the full description field for State Death Tax Return purposes and want the same description to be used on the 706 return, clicking the Set to XXD Description button copies to this field the same description text entered on the State Death Tax Return screen. If you change your mind the want to revert to the default full description (including number of units or shares or face value of a bond), click the Reset button to restore the description to the default. Revised 05/04/2006 SECTION II Page 79 of 123

90 4 Separator A new feature in the Windows/Mac 6-in-1 application is the ability to change the separator character(s) between the name and additional description either globally (affects all transactions in all Estates and Trusts) or customized on a transaction-by-transaction basis. By default, a hyphen (-) is used for all transactions. In the top left illustration, the default separator (a hyphen) is being used as the red bar at the bottom of the field indicates. To change the default separator, click into the left field and enter the character(s) desired, e.g., a period or a semicolon or other separator (changed default is NOT illustrated here). To change the separator for a specific transaction, click into the right field and enter the character(s) you want to have appear. The second illustration shows that the default separator is a hyphen, but the separator used in the current transaction has been changed to a comma and a space. Note the red bar now appears below the customized separator for the current transaction. Entering one or more characters in the right field is a transaction-specific decision that is applied to all tax returns and documents for the customized transaction only and is NOT applied to any other transaction in the database. Because the length of the name field is restricted, the user may often need to enter more description in the Additional Details field. Entering a <space> in the separator override field produces a complete description that flows naturally. For example, suppose the Decedent owned a parcel of real estate and you wanted to show the street address, city, and State. To keep the name short (as required), it would be necessary to divide the description and place part of it in the Additional Description field. In the illustration below, the city and state and legal description have been entered in the additional description field. If the default separator is not overridden, the complete description for Schedule A of the 706 would appear as shown below. Note the hyphen (separator) between the two fields. Changing the separator to a <space> produces the following complete description. [Printed on the next page is the help message box that explains the use of a different separator.] Revised 05/04/2006 SECTION II Page 80 of 123

91 [The remainder of this page is intentionally left blank] Revised 05/04/2006 SECTION II Page 81 of 123

92 Form-Specific Data There are three (3) places where form-specific data may be entered: On a tax form In General Information In a transaction The type of form-specific data determines where it is entered. For instance, information such as First or Final Year selection, beginning and ending dates, etc. related to a Fiduciary Income Tax Return is entered on the associated return. Likewise, specific questions for 706 purposes such as those found in Part 4, Page 3 of the 706 are typically answered directly on the return. General options (such as Alternate Valuation or Special Use elections) may be entered directly on the form or in General Information, usually on one of the Additional Information data entry screens. Form-specific options that vary by transaction (as opposed to being a decision affecting all items on a tax return or document) are handled in the transaction database on the data entry screen dedicated to the form or document. This section discusses form-specific options found on different data entry screens. Information is entered on a transaction-by-transaction basis. 706 Data Entry Screen Options Alternate Valuation The Alternate Valuation date is automatically entered by the program and is based on the date of death entered. If the asset is still owned six (6) months after death and Alternate Valuation is elected, enter here the value as of that date. If the asset has been sold or otherwise disposed of within the 6-month period, do not enter anything here. Be certain, however, that the code used for the transaction that records the sale or disposition is correct and that the name of the transaction disposing of the asset is the same as the transaction originally entered to bring the item into the Estate or Trust. 2 Schedule E-2 and K-1 This is the only place to enter the letter assigned to the co-owner(s) of an asset and override the default assumption that accounts owned jointly with non-spouses are fully includible. Revised 05/04/2006 SECTION II Page 82 of 123

93 Note: Currently [05/04/2006], co-owner information must be entered in General Information. (From the Main General Information screen, click the Additional details button and select 8. Joint Owners/Banks button from the Navigation Panel on that screen. 3 Character of Institution This information appears on Schedule O. At this time, this is the only place where that information may be entered. (See Customizing Transactions at for a description of other 706 screen fields.) State Death Tax Returns Data Entry Screen Options This area will contain State-specific fields. The content will vary in accordance with State requirements. PAD tab (Pennsylvania Inheritance Tax) Schedule F Schedule G Co-owner Letter Number of Co-owners Date Made Joint Donee Exclusion Percent Includible Revised 05/04/2006 SECTION II Page 83 of 123

94 IND tab (Indiana Inheritance Tax) Alternate Valuation Fields Schedule A Acres Schedule E-5 Percent Includible OHD tab (Ohio Estate Tax) Alternate Valuation Fields Schedule A Qualified Farm Value Schedule E-2 Joint Owner Letter Schedule E-2 Percent Includible Schedule K Character of Institution Other States Other states requiring supporting schedules will have fields related to that State s requirements Data Entry Screen Options Enter on this screen the amount of a dividend that is a qualified dividend. The field is found near the top of the data entry screen. If the entire amount shown for 1041 purposes is qualified, <shift> <click> on the field to automatically enter the full amount. If you have questions regarding this feature, click on the blue help button located just above the field. If the transaction is a sale, fields to show basis and costs of sale will appear. State Fiduciary Income Tax Returns This screen is not available for most states. If the Estate or Trust is domiciled in PA, the screen will be available and contains fields to modify basis and costs of sale for sale transactions as well as a checkbox for entries that represent income received from another Estate or Trust. Inventory Options Items specific to the domicile of the Estate or Trust will appear on this screen. North Carolina, for instance, requires entry of the percentage owned by the Decedent. Account Options If the transaction is a sale, fields to customize basis and enter costs of sale will appear. If a transaction is to be split between principal and income, the amounts may be customized on this screen. Revised 05/04/2006 SECTION II Page 84 of 123

95 Editing Transactions Finding Transaction(s) Search techniques to locate specific transactions have been discussed in a prior section. This section includes only a description and screen shots of search techniques on module-specific data entry screens. Find Transactions using the Module-Specific Data Entry Screens Search by Name The same method of searching for transactions by name on the Main data entry screen is also used on the 706, State Death Tax Return, 1041, State Fiduciary Income Tax Return, Inventory, Account and Bank screens. These lists of transactions, however, do not include the option to view and sort by name or date. Start by clicking on the RIGHT side of the list button just under the 6-in-1 button. A pop-up menu appears showing all of the first letters of the names of the transactions. Scroll the list using either the mouse cursor or the <up> and <down> arrow keys to highlight the letter desired and then click on that letter (M was again selected here.) The pop-up submenu includes only the transaction names that begin with the letter M. In this example from the 706 data entry screen, Mutual Directions Global Fund was again selected. Notice that only one transaction having that name is now visible on the list. As on the Main transaction data entry screen, once you have selected a name, that name will appear in the large yellow box and the letter M (the first letter of the name selected) appears in the smaller box. ONLY THOSE TRANSACTIONS will be available in the list until one of the following occurs: 1. You click the Clear or Show All button; or 2. You change the selected transaction name as described above. There are three differences between this list and the one that appears on the Main Data Entry Screen: 1) There is no option to sort by date or name; 2) the name of the transaction does not show in the list itself; and 3) the Schedule or line placement is shown (in this case, B_1, indicating the items appear on Schedule B in the first group. The schedule or line numbers will vary according to the return or document results being viewed. To view a specific transaction, click on it. Revised 05/04/2006 SECTION II Page 85 of 123

96 Search by Schedule or Line Number The lower section of the Navigation Panel on the 706, State Death Tax Return, 1041, State Fiduciary Income Tax Return, Inventory, Account, and Banks data entry screens display all transactions for a selected schedule or Line Number. All transactions currently coded with the same schedule or line number as the transaction currently being viewed are, by default, displayed here. The list of 706 transactions shown here is based on the selection of the Mutual Directions Global Fund (a Schedule B_1 asset) in the top portion of the Navigation Panel (see the illustration on the previous page). Click on the down arrow to display a list of the schedules or line numbers to change the list being viewed to transactions for that schedule. Use the mouse cursor or <up> and <down> arrow keys to scroll the list and highlight the desired schedule. The list of Schedules or line numbers will vary according to the specific data entry screen (706, 1041, State Death Tax Return, State Fiduciary Income Tax Return, Inventory, Account or Banks). The examples below show the result when Schedule A is selected. Regardless of any previously selected search options, the top portion of the Navigation Panel will now display the first letter (D) of the first transaction of the selected schedule (in this case, A) and the name of the first transaction ( Meridian ) on that schedule will appear in the larger yellow box. Additionally, the transaction details displayed will (in this case) now be data associated with the Duplex situate at Meridian. Transactions listed in the lower portion of the Navigation Panel will now include those appearing on the selected schedule or line number. To view a different transaction, highlight and click on the name. Revised 05/04/2006 SECTION II Page 86 of 123

97 Add, Edit or Delete Data in Fields To edit any modifiable field in a transaction, click into the field. Generally, the entire field will turn black and, if the data entered exceeds the size of the field on the screen, the field expands to show the entire entry. Shown here is the additional description field from a real estate transaction. Tip: To delete the entire contents of the field, when it is highlighted (black) press the <Delete> or <Backspace> key. To edit the field contents, click on the field a second time to place the cursor in the field and make your changes. Note: Additions and changes to a transaction (or any record in any of the databases) are automatically saved. Add, Edit or Delete Form-Specific Data (Optional) This step may also be executed when a transaction is first created. It is included in this section because it is more likely a user will recognize the need for form-specific data at some point after the transaction is created. As explained in prior sections of this manual, the Windows/Mac 6-in-1 application has several options to customize transactions to suit a specific purpose. For any tax return or document (Inventory, Account, etc.), the following items may be modified to produce a different result: Code (Schedule/Line Number) Amount Additional Description Separator To modify the above default values for a particular document or return, click on the button at the top of any transaction data entry screen to navigate to the return or document-specific data entry screen. Revised 05/04/2006 SECTION II Page 87 of 123

98 Transactions: (Examples) Basic Transactions The following sample transaction entries focus on input of typical transactions and results. Examples of more advanced transactions are available in separate documents. Example 1: Bank Account (Checking) with accrued interest Facts: M & T Bank (Account # ) The date of death principal balance: $75, Accrued interest to the date of death: $89.28 There will be two (2) transactions to record the principal asset and the associated IRD. Transaction #1: Principal Balance 1) Create a new transaction. 2) Enter the name of the account. 3) Enter or look up the code (the asset is cash in the bank). 4) Enter the principal amount. Note: When an amount is an even dollar amount (no cents), you may enter the amount without the decimals. It is not necessary to enter the thousands separator (a comma). 5) If your license includes the Account module, enter the date the account was closed and the name of the bank or other financial institution into which the funds were deposited Revised 05/04/2006 SECTION II Page 88 of 123

99 Transaction #2: IRD (Income in Respect of Decedent) - Pre-death Interest 1) Create a new transaction. 2) Select the name from the drop-down list to insure it is EXACTLY the same as the original transaction. 3) Find and enter the code (19.6 is used here). 4) Enter the amount (89.28). 5) If it is not already marked, click on the checkbox next to IRD. If the checkbox is not marked, the transaction will not appear directly below the original transaction with the text Accrued Income on Item ** through date of death. The asterisks (**) will be replaced by the item number assigned to the asset to which it is related on all documents. 6) Enter the bank information (if appropriate). (The completed transaction is shown on the next page.) Revised 05/04/2006 SECTION II Page 89 of 123

100 Using the fact pattern described above, the completed transaction screen would look like this: The 706 Schedule C results are illustrated below. Example 2: Listed Stock with IRD Dividend (two transactions) Facts: ABC Corporation Common Stock: 2,300 shares The date of death price per share: $15.00 Dividend of record (Not yet received): $ Revised 05/04/2006 SECTION II Page 90 of 123

101 Transaction #1: Enter the asset 1) Create a new transaction. 2) Type in the name of the transaction. 3) Enter other description information in the Additional Description field below the Name field (Optional). 4) Find and enter the appropriate code (4.1 is used in this example). 5) Enter the number of units/shares and the price per unit/share. (The program will calculate the amount rounded to two (2) decimal places.) Stock: Price Per Share is Unknown With respect to entry of a security or item having shares or units and the price per share is unknown, enter the number of units and the total value first and click the Set Price button. The program will then calculate the price per unit. The completed example transaction Transaction #2: Enter the IRD Dividend 1) Create a new transaction. 2) Click on the down arrow next to the name field to select the transaction name. 3) Enter other description information in the Additional Description field (Optional). 4) Find and enter the code. Note: There is no code specifically for an IRD dividend. You will want to select a dividend code and mark the IRD checkbox to force the program to treat the entry as an IRD dividend. 5) Enter the amount of the dividend. 6) To complete the transaction for Account purposes, enter the bank date and name of the financial institution into which the check was deposited. Revised 05/04/2006 SECTION II Page 91 of 123

102 The transaction, using the above facts and steps, would appear as shown. Note the pink or lavender highlighting of the fields customized for IRD purposes. Bank date has been customized to show actual date of deposit. Schedule B of the 706 Revised 05/04/2006 SECTION II Page 92 of 123

103 Example 3: Bond Facts: Municipal Bond Face Amount: $50, Price per unit: $ Note: If there were accrued interest on the bond as of the date of death, a second transaction would be required to reflect that. Although the code would be different, creation of the IRD transaction would otherwise follow the process detailed for Example 1, Transaction #2. 1) Create a new transaction. 2) Enter the transaction name. 3) Type other description details in the Additional Description field. (Optional) 4) Find and enter the appropriate code for the type of bond. 5) Enter the number of units. For a bond, divide the face value by 100 to obtain the correct number of units for the asset. In this example, the face amount of the bond is $50,000. The number of units would be 500. (See the note below for procedure if the price per unit is not known.) 6) Enter the price per unit. The program will automatically calculate the total amount. Note: In the event you do not have a price per unit, but do have the total date of death value, skip the price per unit field and enter the total value in the Amount field. Click the Set Price button located next to the units field to have the program automatically calculate the price per unit. The completed transaction, using the above set of facts: Revised 05/04/2006 SECTION II Page 93 of 123

104 Example 4: Jointly Held Property (Non-spouse co-tenant with IRD) Facts: Savings & Loan Account: $30, Co-owner: Gretta J. Smith-Jones (Sister) Date joint tenancy created: 07/11/2000 Percent includible: 100% Accrued Interest to date of death: $ Two transactions are required. The examples assume you have already entered the name of the co-owner in General Information (described on page 3 of this Guide) and that you have created a beneficiary record for Greta Smith-Jones. Transaction #1: Enter the Joint Account (Date of Death Principal Balance) 1) Create a transaction. 2) Type in your transaction name (generally the name of the bank and account number). 3) Find and enter the code. Note that regardless of the nature of the property (cash, security, real estate, tangible personal property, etc.), it is the CLASSIFICATION of the asset that is primary when entering a joint asset. The keyword for all joint assets is Joint. 4) Enter the date of death value of the asset (100% of the value is always entered here). If the asset is a security, follow the steps to enter the number of units and price per unit as shown in Example #2, Transaction #2. Note: If the jointly owned property is a security, you will need to manually set the type so the description will appear correctly on the tax returns. 5) Click on the 706 link (button) to navigate to the 706-specific data entry screen and enter the co-owner letter. Select the co-owner letter from the drop-down list that appears when the down arrow is clicked. You may wish to allocate the asset to Gretta J. Smith-Jones so that her name and the amount passing to her will be included on page 2 of the 706. Although the process of pre-tax allocation to beneficiaries is discussed in a separate beneficiary section, a brief description of the process to specifically allocate the asset from within the transaction is included here. To allocate an asset to a specific individual FOR TAX PURPOSES, from the Main data entry screen in Transactions, click on the Beny Allocations Button. Revised 05/04/2006 SECTION II Page 94 of 123

105 From this screen, select the name of the co-owner (Gretta J. Smith-Jones) from the drop down list that appears when the down arrow button next to the name field is clicked. By default, 100% of the asset is allocated to the first name selected. Click on the Refresh Beny Amounts button to update the 706 Pre-Tax allocations. Revised 05/04/2006 SECTION II Page 95 of 123

106 Transaction #2: Enter the IRD Attributable to the Joint Account 1) Create a new transaction. 2) Enter the name of the transaction using the drop down list of transaction names. 3) Enter additional description. (Optional) 4) Find and enter the code. This transaction will use the same code as the original transaction and it will be a code for Joint assets regardless of the nature of the asset itself. 5) Enter the amount of the IRD ($200.00) If the IRD checkbox does not appear on the main screen, click on the 706 link (button) to navigate to the 706- specific data entry screen and mark the IRD Y/N checkbox that appears on that screen. 6) Enter the Co-owner s letter, again using the drop-down list of co-owner names as illustrated in Transaction #1. 7) The IRD may be allocated to the co-owner as outlined in the first transaction. Note: There are other methods of allocating amounts for the 706 that do not involve allocation of the transaction that you may prefer to use or find to be more suitable for you. These methods are discussed in the beneficiary section. Schedule E-2 of the 706 (Main Page view) (The continuation page is illustrated on the next page.) Revised 05/04/2006 SECTION II Page 96 of 123

107 Schedule E-2 (Continuation Page) showing the transactions Example 5: Distribution Transaction #1: In-kind Distribution This example assumes you have previously entered beneficiary information as well as the asset to be distributed in kind. Task: Distribute real estate owned by the Decedent to the specific devisee. The simplest way to accomplish this kind of distribution is to copy the original transaction, change the code and date, and add the beneficiary s name. 1) Locate and navigate to the original transaction. 2) Click the Copy Trans button. The type of copy (exact or partial) will depend on your circumstances, but where no modifications or adjustments have been made, an exact copy will suffice. 3) Change the code. In this case, the real estate is being distributed to a devisee other than spouse, so code will be For a residual distribution, you would use ) Change the date to the date of distribution. 5) Click on the beneficiaries button and select the name. To distribute any asset in kind, whether by copying the transaction or creating a new one, be sure to use the EXACT same name as was used in the initial transaction or they will not link properly. [The transaction and the Account results are shown on the next page.] Revised 05/04/2006 SECTION II Page 97 of 123

108 The completed Transaction Account Results: Changes in Investment Holdings schedule Account Results: Distributions Schedule Revised 05/04/2006 SECTION II Page 98 of 123

109 Transaction # 2: Cash Distribution 1) Create a new transaction. 2) Enter a name for the transaction. You may give the transaction any name desired as it does not need to link to an asset. You should not use the Beneficiary s name as the name of the transaction as it will show up twice on your account (grouped under the name and again as the transaction name). 3) Select the correct code for your distribution type. 4) Enter the date of the distribution. 5) Enter the amount of the distribution. 6) Enter the bank name for the account from which the funds were disbursed. The completed transaction Account results: Distribution Schedule Revised 05/04/2006 SECTION II Page 99 of 123

110 Example 6: Sale 1) Create a new Transaction. 2) Remember to use the EXACT same name as that used to record the receipt of the security. Select it from the drop-down list next to the name field. 3) Enter a sale code. Since the security was owned by the Decedent, it automatically qualifies for treatment as longterm capital gain/loss, so a code selection of 26.2 is appropriate. Note: Other States may use different codes. 3) Enter the date of sale. 4) Enter the number of shares being sold. 5) Enter the price per share at the time of sale. The program will calculate the total amount. If you do not know the price per share OR if you are entering the net proceeds of sale in the amount field, click the set price button to establish the price per share. 6) Enter the name of the bank or other cash account into which the proceeds were deposited. Basis is calculated automatically. To manually override the calculated value, click on the 1041 button at the top of the screen and click into the basis field to modify it. If you wish to include expenses of sale as a single entry amount, enter the total amount of expenses in the field for that purpose at the bottom left of the data entry screen. The amount of the bank deposit will be net (after expenses are subtracted). Bank Deposit is entered here Total Cost of sale is entered here Revised 05/04/2006 SECTION II Page 100 of 123

111 Example 7: Prorated Interest Accrued and post-death interest may be recorded as separate transactions or as a single transaction. Some users prefer to separate the entries while others prefer to use the prorated interest function. This example describes the use of the prorated interest feature. In this example, the interest rate is 6% and interest is paid semi-annually on 8/15 and 02/15. 1) Create a new transaction. 2) Enter the name of the transaction. Since the transaction must be linked to the original transaction for the accrued interest portion to be reflected on the tax returns, the Account and the Inventory, the name used for this transaction must be EXACTLY the same as that used for the initial entry. It is strongly suggested that you select the name for this transaction from the drop-down list that appears when you click on the downarrow next to the name field. 3) Select the appropriate prorated interest code from categories, keywords or Code Details. Code is the prorated interest code for a corporate bond. Note: Other States may use a different code. A blue button labeled Prorated Interest will appear just to the left of the Units and Price fields as shown here. 4) Click on the button to navigate to the screen for entry of the rate, etc. In this illustration, the number of units (500), the rate of interest (6%) and the date of the last payment before the decedent s death (08/15/2004) have been entered. The annualized interest has been automatically calculated as well as the next payment date. Because the type of transaction is shown as a bond (BC), the program has assumed a semi-annual payment frequency. At this time, no amounts have been allocated to pre- and post-death. Click on the Set Amount button to do this. [Results are illustrated on the next page.] Revised 05/04/2006 SECTION II Page 101 of 123

112 The results are shown here. 5) Click the blue Go Back button on the left side of the screen to return to the transaction main data entry screen. 6) To complete the transaction, be sure to enter the bank date and the name of the bank/cash account into which the interest was ultimately deposited. In this Estate, there is a brokerage account with a CMA Money Market account and the interest was deposited on the day it was received (02/15/2005). The date for tax purposes is assumed by the program to be the date of receipt. Shown below is the completed transaction. Revised 05/04/2006 SECTION II Page 102 of 123

113 The bond and accrued interest will now appear on the appropriate death tax returns and the Inventory. The accrued interest will appear with the asset on the Principal Receipts Schedule of the Account and the post-death interest will appear as income for account purposes. Schedule B of the 706 Principal Receipts Income Receipts Revised 05/04/2006 SECTION II Page 103 of 123

114 Example 8: Interest Income Task: Record the receipt of interest Facts: $50,000 ABC Corporation Bond 6% interest Payment Dates: 8/15 and 2/15 1) Create a new transaction. 2) Select the transaction name from the drop-down list. 3) Find and enter the correct income code (19.22 is normally the code for corporate bond Interest). 4) Enter the date of payment. 5) Enter the amount of interest. 6) Select the name of the bank account into which the interest was deposited if the bank has been previously created. If it has not been created yet, enter it in the Bank Deposit field. 7) If the funds were not immediately deposited, adjust the bank date to reflect the actual date of deposit. The completed transaction is shown below. In searching for codes to record Income received by the Estate or Trust, you will find that income is classified first as Income and, secondly, as the type of income received. Revised 05/04/2006 SECTION II Page 104 of 123

115 Example 9: Dividend Task: Record a $5,000 dividend received from DEF Corporation on 3/1/2005 1) Create a new transaction. 2) Select the name of the transaction from the drop-down list next to the name field. 3) Find and enter the correct code. 4) Enter the date of payment. 5) Enter the amount of the dividend. 6) Select the name of the bank into which the funds were deposited from the drop-down list or type it in if it has not been previously created. 7) If necessary, adjust the bank date. The completed transaction is shown below. A quick way to enter subsequent dividends for the same asset is to copy the dividend transaction, change the date and, if necessary, adjust the amount. Revised 05/04/2006 SECTION II Page 105 of 123

116 Example 10: Payment of a Debt Facts: Creditor: University Hospital Balance due: $ Date paid: 2/13/2005 Check #: 112 1) Create a new transaction. 2) Enter the name of the payee. 3) Enter any additional description (optional). 4) Select a code. There are three debt codes. 108 is the code for debts that have been paid by the estate and are deductible for death tax purposes. The two other codes for debts suppress specific results, (e.g., the Account or Death Tax result). 5) Enter the date the debt was paid (usually the date of the check). 6) Enter the amount of the payment. 7) Select the name of the bank account from which the debt was paid in the Bank Disburse field. Use the drop-down list if the bank name has already been created. If this is the first transaction recorded using this bank account, type in the name and, if desired, an account number. The completed transaction is shown below. Revised 05/04/2006 SECTION II Page 106 of 123

117 Example 11: Payment of Administration Expenses Task: Record a payment of $4,000 to the attorney. 1) Create a new transaction. 2) If no prior payments have been made to the attorney, type in the name of the attorney or law firm. 3) Enter any additional description desired. 4) Select and enter the correct code for your situation is used here as there is a Federal Estate Tax Return and the deduction is needed to reduce Federal Estate Tax. If there is no 706 required (or no deduction is needed), code will, by default, assign the expense on the Note: The choice of a 1041 result as opposed to a 706 result does not affect the status of the deduction for PA Inheritance Tax purposes. 5) Enter the date of the disbursement. 6) Enter the amount of the payment. 7) Select the name of the bank account from which the invoice was paid or type it in if it has not been previously created. Optional: Enter the check number. If appropriate (e.g., this is an Ohio Estate), enter a voucher number as well. Tax Note: Click one of these checkboxes to change the default tax destination of an expense. Accounting Note: To change the default allocation of an expense to income, click the checkbox next to Income. Click one of the checkboxes that appears left of the code results area to claim a double deduction or to re-assign the default tax results. Administration expenses are, by default, assigned to principal for accounting purposes. If the expense is to be charged against income, mark the checkbox next to income. Revised 05/04/2006 SECTION II Page 107 of 123

118 Additional Examples See APPENDIX A (Cash Management) See APPENDIX B (Headers and Groups). See APPENDIX C (Securities) Revised 05/04/2006 SECTION II Page 108 of 123

119 2.06 Tax Returns and Documents Accessing Your Documents 6-in-1 Button Navigation among the modules (General Information, Beneficiaries, Transactions, 706, State death tax return, etc.) within the application is easily accomplished by clicking on the large gray button labeled 6-in-1 found in the upper right-hand corner of most data entry screens. Clicking that button brings up a submenu of options available. A checkmark next to the module name indicates a return or document has been created for the current Estate or Trust. Shortcut: If you SHIFT click on the 6-in-1 button, you will be brought instantly to the 6-in-1 Main Menu (Hub and Spokes) screen. If you select the 706 Tax Return, the program will automatically navigate to the correct form for the year of death. Shortcut Method (from Transactions) View the Main (or Cover) Page From any transaction data entry screen, hold down the <alt> key and click on the module button to view the Tax Return or document for that module. In some cases, you may need to recalculate to view an updated document. Once you are in the document, you will be able to navigate to schedules, view, and print all or part of the document. To return to the transaction database, click on the Transactions button located in the Navigation Panel (right side of the screen). <Alt> <click> Return to transactions Revised 05/04/2006 SECTION II Page 109 of 123

120 View Specific Schedules From any transaction data entry screen, hold down the <shift> key and click on the module button containing the schedule you want to view. A drop-down submenu listing all schedules for which there are supporting transactions appears. Highlight and click on the schedule to be viewed. When the schedule appears, you may view or print it. You may also navigate to the previous or next schedule for that module by clicking the previous and next buttons on the right side of the screen. Click the Go Back button to return to transactions. <Shift> <click> Return to transactions View previous or next page of the schedule (if available) View previous or next schedule (if available) Print the schedule Revised 05/04/2006 SECTION II Page 110 of 123

121 Checklists in Tax Returns Numbered Pages of the Return The data entry fields for items requiring completion from within a tax return (such as the yes/no questions found on pages 2 and 3 of the 706) are accessed by clicking on the appropriate page number in the Navigation Panel located on the right side of the screen for all numbered pages in a return. To add this information, click on the page button. Fields colored in yellow are data entry fields. Schedules Fields colored in yellow are data entry fields. Fields containing names, addresses and other information or total amounts (these appear on a white background) are NOT modifiable from within the tax return. Make any changes in General Information. Data entry fields for items to be completed on tax return schedules (such as Schedule F of the 706) are accessed using the Scheds button located in the Navigation Panel found on the right side of tax returns (where applicable). Click on the button labeled Scheds to view a submenu of schedules. Scroll to the appropriate schedule and another submenu appears. From that submenu, select Main and add the required information. You will NOT see your transactions when viewing the Main data entry screen. To view your transactions, select Transaction Details from the submenu options. Revised 05/04/2006 SECTION II Page 111 of 123

122 Viewing Tax Schedules To view one or more schedules in a tax return, click on the View Schedules button (the 706 button is labeled View Scheds A-0 ) and select one from the drop-down list. To view other schedules without returning to the main page, click on the <Prev> or <Next> button. To view additional pages (if any) of the currently selected schedule, click on the <Page Up> or <Page down> button Date Ranges The Inventory, Account, and the Fiduciary Income Tax Returns have an option to set the beginning and ending dates. The fields are located in the Navigation Panel on the right side of the Main page of tax returns and on the summary page of the Account. By default, the Inventory and Account begin on the date of death. The Fiduciary Income Tax returns have a default calendar year date (e.g., 01/01/2005 to 12/31/2005 for the 2005 returns). On the Inventory and the Account screens, there is also a checkbox that must be marked if your date range spans less than the complete accounting period. The Accounting Navigation Panel is shown here. The location of the date range fields varies according to the document but will always be found in the Navigation Panel. Note: If the date to be entered is in the current year, you may enter only the month, the separator (slash or dash) and day. The program will add the year Recalculation If you change the date range or any amounts that might affect the totals, you should recalculate. A large red Recalc button is located in the Navigation Panel on Main or Summary pages. Whenever you print any module from the Print Options screen, however, the program will refresh all related calculations. Revised 05/04/2006 SECTION II Page 112 of 123

123 Pagination: Model Account (Summary Page) There are two methods of assigning page numbers to the Account: Automatic pagination and Custom. Automatic Pagination If the page numbers are missing or incorrect, click on the Repaginate button. The program will cycle through the Account and assign page numbers, displaying the progress as it completes the renumbering. When the process is complete, the user is returned to the Account Summary page screen. Below is an illustration of the completed repagination. The corrected Summary page is shown below and the Account should now print with the correct page numbers. Revised 05/04/2006 SECTION II Page 113 of 123

124 Custom Pagination If you wish to customize the page numbers, use the custom pagination method. For example, if for some reason you did not want to include the Changes in Investment Holdings (an informational schedule) in your account, you might want to override the default page numbering. In this example, the Principal Changes in Investment Holdings appear on pages 8 10 and Income Changes in Investment Holdings appear on page 16. To renumber, move your mouse over the page number(s) you want to change. The cursor will change to a pointing hand indicating there is a button you may click. Revised 05/04/2006 SECTION II Page 114 of 123

125 Click to enter the override field (field will turn yellow). In this case, you do not want ANY page numbers to appear. To create an empty field (no page number), press the <space bar> once while you are in the field. Press the <tab> key or click anywhere on the page to exit the field. The numbers 8-10 have now disappeared. Click on the next page number to be changed (Income Receipts in the example shown) and enter the number(s) desired. In this instance, you would enter 8 9 in the field next to Receipts. Repeat the process to renumber the subsequent pages. The illustration below shows the Summary page modified to exclude the Changes in Investment Holdings Schedules for both Principal and Interest. Revised 05/04/2006 SECTION II Page 115 of 123

126 IMPORTANT: To finalize the customized pagination, mark the checkbox to Use page #s from this page on Schedules. Do NOT click on the Repaginate button as that will remove your custom numbers and renumber the account pages automatically. If you have questions about the repagination function or the use of customized page numbers, click on the help buttons (blue buttons with a question mark in the center). X Please note that customizing the page numbers will NOT clear the checkboxes on the print options layout if you have previously marked the schedules to print. You will need to remove the X from the checkbox for any schedules you do not wish to print. Tip: If you change your mind and decide to let the program automatically set the page numbers, it is suggested you click on the Repaginate button. For clarification of the purpose of the buttons on the Summary page, click on the help button (blue square button with a question mark in the center). Revised 05/04/2006 SECTION II Page 116 of 123

127 2.07 Printing Options Complete Tax Returns and Documents From the Main page of Tax Returns (or the Summary page of the Account or Inventory), click on the blue Print Options button located in the Navigation Panel on the right side of the screen. The contents of the Print Options screen will vary based on the module. However, the procedure is the same: To print all of the required schedules or those schedules having supporting statements, click on the gray button labeled Required. To print All, click on that gray button. Click the blue help button for more information. To print specific schedules only, click on the Clear All Check Boxes button and mark the checkboxes manually. To print a draft document, mark the draft Watermark checkbox. When you have selected the options you want, click on the green Print Marked Pages button. When printing is complete, click on the blue Back button to return to the Main or Summary page Print a Schedule From Preview Any schedule that is being viewed may be printed. Click on the gray Print This Page button located in the Navigation Panel on the right side of the Preview screen. Revised 05/04/2006 SECTION II Page 117 of 123

128 Transactions: Addendum I CUSIP Numbers There is now a Securities Library that is part of 6-in-1. This allows you to look up security names and CUSIP numbers. Facts: Security: 5,000 shares of Xerox Corporation Common Stock Per share value: $14.37 Objective: Enter a CUSIP number Steps: 1) Create a new transaction. 2) Enter the name of the security (Xerox Corporation). 3) Click on the CUSIP button (left side of screen near the top) ) If the name of your security is not showing in the list, enter up to 12 characters in the yellow box and tab. 5) If necessary, scroll the list to find the security and click on it to select it. The CUSIP number will be entered. 6) Click the Back button to return to transactions Revised 05/04/2006 SECTION II Page 118 of 123

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