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Old 01-29-2015, 03:45 PM
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Repayment - Estate income 1041

How do we report the repayment that was included in 1099-R (same year)?The 1099-R is for an estate, and we also have a letter from the payer stating the amount of repayment, as well as to follow IRS provisions to claim the repayment amount. The repayment amount is > $3K. Do we deduct it from the taxable amount on 1099-R and write the net amount on Form 1041 (Others - line 8), with details in the space provided? Don't see anywhere on the form to take the repayment as credit, unlike the individual form 1040.

Would very much appreciate advice. Thanks much.

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