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K
kayf
Level 2
January 26, 2022
Solved

1041 help

  • January 26, 2022
  • 1 reply
  • 4 views

I am doing a first/last 1041 where property sold in the trust. 4 beneficiaries, each 25%

The K-1s are showing twice what the beneficiary should be seeing as their share of LTCap Gains.

I'm pretty sure I am inputting something imncorrectly, but cannot figure it out. Any help will be greatly appreciated!!

 

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Best answer by kayf

Thank you! I knew I was doing something "dumb"!!!!

1 reply

George4Tacks
George4Tacks
Level 15
January 26, 2022

Simple Trust?

Screen 7 Enter 25.00000000000 for each partner ONLY in the 1st 3 blanks? not in all 6?

Answers are easy. Questions are hard!
K
kayfAuthorAnswer
Level 2
January 26, 2022

Thank you! I knew I was doing something "dumb"!!!!

    George4Tacks
    George4Tacks
    Level 15
    January 26, 2022

    Join the "dumb" club. We have many members here, including me. 

    Answers are easy. Questions are hard!
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