Trust Tax: Edit capital gain 'Annual Exemption' value

Article ID

trust-tax-edit-capital-gain-annual-exemption-value

Article Name

Created Date

18th November 2021

Product

Problem

IRIS Trust Tax: How to edit Capital Gain Annual Exemption value

Resolution

Load the Trust and select relevant period
Income, Capital Gains and Dividends, Capital Assets,
Top left – Edit, Losses and Other info information
‘Annual Exemption’ box – tick override and enter the amount you want to claim
IF this is a Discretionary Trust and there are more then 1 Trust then enter the number of trusts in the box: ‘Number of Trusts made later than 6 June 1978 still existent’ – this will auto calc the exemption amount without you overriding the value.

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