The following is the description and function of the Federal worksheet and sections applicable to Missouri. All other worksheet and sections not specifically mentioned in these help screens are not applicable.
Information entered on Federal General - Basic Data worksheet, General section is used to answer the appropriate questions on the Missouri return. For additional information required on the Missouri return, refer to the General worksheet, Basic Data section.
Type of entity. Type of entity is required on Federal General - Basic Data worksheet, General section in order to process a return according to federal and Missouri tax laws. If entity type Charitable lead trust or Pooled income fund is used, the Missouri return will be processed as a complex trust..
If entity type Charitable remainder annuity trust or Charitable remainder unitrust is used, the Missouri return will be processed as a blank complex trust. Schedule K-1 equivalent will be prepared if there are any modifications present (per taxing authority instructions).
Home state. This field indicates the resident state return to be processed. Any information in the return, which is accompanied by a blank state code, is assumed to apply only to the resident state return identified in the Home State field on Federal General - Basic Data worksheet, General section. See the FS and State Code sections of the federal help screens for further information on the use of state codes.
Resident city: Missouri city returns are not available.
Electing small business trust (ESBT). An ESBT is produced by checking off in the box marked "Electing small business trust" on Federal General - Basic Data worksheet, General section, Other subsection. If a return is designated as an ESBT, all S Corp entries are treated as separate trusts and worksheet detailing the tax computation is produced. The non S Corp entries will produce simple or complex trust returns and include the ESBT tax in the total tax. See the Federal instructions for further details.
Revocable Trust. Single or multiple grantor trusts may be processed by entering "Grantor trust" as the type of entity field on Federal General - Basic Data worksheet, General section and entering grantor information on Federal Beneficiaries - Beneficiary Information worksheet, General section. See Federal Beneficiaries - Grantor and Custodial Information worksheet, Grantor Print Options section for more information.
Custodial Agency. The Custodial/Agency Account, Tax Information Letter, is processed by entering “Custodial/Agency Account" as the entity type on Federal General - Basic Data worksheet, General section and entering recipient information on Federal Beneficiaries - Beneficiary Information worksheet. When this option is selected, Missouri Form MO-1041 is suppressed and the recipient's tax information is printed on a customized "Tax Information Letter".
Amended/Initial/Final Returns. Missouri Form MO-1041 and Schedule K-1 Equivalent report the same amended, initial, and final status as the federal return. If the federal return is amended, initial, or final, enter "N" in the corresponding field on Federal Common State - General Information worksheet, General section to prevent the Missouri return from defaulting to the same federal status. Enter "Y" in the appropriate Federal Common State - General Information worksheet, General section to identify the Missouri return as amended, initial, or final when the federal return is not. The Federal and Missouri Schedules K-1 may be indicated as final for specific beneficiaries with entries on Federal Beneficiaries - Beneficiary Information worksheet.
Annualized Tax. The tax is annualized for Missouri fiduciary short-year returns based on the entry made in the Federal General - Basic Data worksheet, Other Information section in the field for "Option to Annualize Tax". Enter "Months" to annualize the tax based on months or "Days" to use the days method.
Decedent's Social Security Number. Enter the decedent's social security number on Federal General - Basic Data worksheet, General section.
Number of Copies. Three copies of the Missouri return will be printed automatically. Additional copies may be ordered in sets of one federal and one Missouri including all K-1's. Additional Forms 1041 for each beneficiary or grantor or only additional Schedules K-1 may be ordered with separate options.
A copy of the federal return is attached for filing with the Missouri return.
Extensions. "State extension" field may be used to suppress the printing of the initial extension from printing for all states when an extension has been requested on federal Other category, Extensions worksheet; or request the preparation of an initial extension for the resident state when no entries are present on federal Other category, Extensions worksheet. If an entry on federal Return Options category, Form Printing Options worksheet is used to request the extension, the calculation of the tax will be based on entries in the return for the resident state listed on federal General category, Basic Data worksheet, General section..
Entries on Federal General - Return Options worksheet override the preparer information entered in
Miscellaneous Information. Check off the field with the description "Print on letter: Federal and state information". This option is applicable for grantor and custodial returns.
Revocable Trusts. Single or multiple grantor trusts may be processed by entering “Grantor trust" as the entity type on Federal General - Basic Data worksheet, General section. The name, address and identification number of the grantors are entered on Federal Beneficiaries - Beneficiary Information worksheet. The grantor information is printed on a letter designed to provide information required for the Missouri individual return.
Grantor Print Options. If the field labeled Print on Form 1041: "Revocable Trust" is checked, "Revocable Trust" prints on page 1 of the Missouri return. If the field labeled Print on Form 1041: "IRC Sections 671 - 678 text" is checked, a message prints on page 1 of the Missouri Fiduciary Return: "Under the terms of the trust instrument this is a grantor trust. All income is taxable to the grantor as set forth under applicable state law. A statement of adjustments is attached."
Custodial/Agency Account. The Custodial/Agency Account, Tax Information Letter, may be processed by entering "Custodial/agency account" as the entity type on Federal General - Basic Data worksheet. Form MO-1041 is suppressed and the owner's tax information is printed on a customized tax information letter. Multiple owners can be entered on Federal Beneficiaries - Beneficiary Information worksheet for custodial/agency returns. All Missouri fiduciary adjustments are distributed equally if there are NO decimal entries in the "Ordinary income percent" field on Federal Beneficiaries - Specific Allocations worksheet, State Allocation Overrides section and then the distribution adjustments are based on the percentage entered for each owner.
Federal General - Letters and Filing Instruction worksheet are available to produce filing instructions, a cover letter and/or transmittal letter containing filing information for the Missouri fiduciary tax return, and application for extension of time to file. See the federal instruction guide for additional information on producing and customizing these letters.
To create a footnote for the state return only, enter "S" in the FS field on Federal General - Notes worksheet. If the footnote is to be printed with both the federal and state returns, leave the FS field blank. The footnote will print as a statement after the state forms, in all copies of the return.
To create transmittal letters(s) for trust, estate, grantors and custodial, and to add optional paragraphs.
To create Schedule K-1 footnotes for the state return only, enter "S" in the FS field on Federal Beneficiaries - Schedule K-1 Footnotes worksheet. If the footnote is to be printed with both the federal and state returns, leave the FS field blank. If the footnote is for a specific beneficiary, enter the beneficiary number in Beneficiary number field. The beneficiary number entered on Federal Beneficiaries - Schedule K-1 Footnotes worksheet should match the number on Federal Beneficiaries - Beneficiary Information worksheet.
To allocate an amount to the beneficiaries, an allocation code can be entered to indicate which worksheet, Federal Beneficiaries - Beneficiary Information or Specific Allocations, percentage to use. If the indicated Beneficiary Information or Specific Allocations worksheet percentage is not entered, the ordinary income percentage is used. Each Schedule K-1 footnote will print as a statement after the applicable Schedule K-1, in all copies of the return.
Please refer to the Federal Instruction Guides for more information regarding this form.
FS and State Codes. To enter override amounts for the Missouri return only; enter an "S" in the FS field. If the override amounts are applicable to both federal and Missouri, leave the FS field blank. If the override amounts are applicable to a state other than Missouri, a specific state code must be entered. See the Federal instructions for further information.
Enter "MO" in the "Code" field and the applicable interest rate (as a decimal) in the "First Quarter" boxes for the current year and/or the following year.
If an extension is required for the Missouri fiduciary return, the state will accept a copy of the applicable federal extension form (Form 2758, Form 8736, Form 8800 or Form 8868) included with the state forms being filed.
If the federal extension is produced with the federal return and an extension is required for the Missouri return, then check off the field called "Federal Form 8736 for state indicated in State code field".
The entries on Federal Other - Extensions worksheet, Automatic Extension (Form 2758, 8736/8868 Pg 1) section in the Federal column apply only to the Federal return; the entries in the State column only apply to the Missouri return.
Form MO-60 is only produced for an initial extension when an State code is entered in the field in the State Column on Federal Other - Extension worksheet, Automatic Extension (Form 2758, 8736/8868 Pg 1) section. Form MO-60 is completed from other information applicable to the return. When this information is incomplete, enter the necessary information in the override boxes.
The date the extension requested through is assumed to be 4 months from the original due date of the return unless a different date is entered in "Date extension requested through" field.
Form MO-60 is only produced for an additional extension when a State code is entered in the field in the State Column on Federal Other - Extension worksheet, Additional Extension (Form 2758/8868 Pg 2) section. Form MO-60 is completed from other information applicable to the return. When this information is incomplete, enter the necessary information in the override field.
The date the additional extension requested through is assumed to be 2 months from the initial extension due date of the return unless a different date is entered in the field labeled "Date extension requested through, if not 10/15".
If the federal explanation does not apply to Missouri, enter the federal explanation with an "F" in the FS column, and the Missouri explanation with an "S" in the FS column.
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