logo
Article Details
Rate This Article
In BNA 706 Preparer, how do I apply changes on Form 706 to Form 8971 and/or Form 8971, Schedule A?
BNA 706 Preparer
In BNA 706 Preparer, how do I apply changes on Form 706 to Form 8971 and/or Form 8971, Schedule A?
Sometimes the selections or changes made in Form 706 are not accounted for in Form 8971 and/or a Form 8971, Schedule A. Here's how to apply changes on Form 706 to Form 8971 and/or Form 8971, Schedule A in BNA 706 Preparer.

For any changes made to the estate on Form 706 that affect the entries made on Form 8971 and/or a Form 8971, Schedule A, it may be necessary to use the Rebuild feature. For example, if the residuary percentages for beneficiaries entered on Form 706, Part 4, Line 5 are changed, it may be necessary to rebuild the Form 8971, Schedule A for that beneficiary in order to populate the accurate residuary percentage.

To rebuild the entire Form 8971 and all Schedule A’s attached to it, you can allow for a global reset. The result is a completely rebuilt Form 8971 and Schedule As after removal of all user overrides (manual additions, deletions, etc.). This feature can be accessed by right-clicking on “Form 8971 - Beneficiaries Acquiring Property” in the Return Pane and selecting “Rebuild Form 8971 - Beneficiaries Acquiring Property”. 

To rebuild an individual Form 8971, Schedule A, you can allow for a reset of that particular Schedule A only. The result is a completely rebuilt Schedule A for a specific beneficiary after removal of all user overrides (manual additions, deletions, etc.). This feature can be accessed by right-clicking on a specific beneficiary's Schedule A in the Return pane and selecting “Rebuild - Schedule A” for the applicable beneficiary.

WARNING! If you choose to use the Rebuild feature for the Form 8971 or a Form 8971, Schedule A, any manual overrides (additions and deletions) you have made will be lost. Removal of overrides on Form 8971 and Schedule A cannot be undone.

 
12/6/16