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Level 2
February 19, 2022
Question

Capital Gain Transactions

  • February 19, 2022
  • 1 reply
  • 2 views

Is there an override on the long or short-term determination on capital gain transaction of Form 1041

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1 reply

Level 3
February 19, 2022

Yes.  Scroll down on the disposition screen for override LT or ST.

Mario100Author
Level 2
February 19, 2022

Thank you for the reply.  When I select "Overrides"  it remains in the Dispositions (Schedule D, 4797,...) screen after I select Overrides (greyed out). Thoughts?

George4Tacks
Level 15
February 19, 2022

@Mario100 are you hoping that the gains are distributed to the beneficiaries? I am unclear as to what you are asking.

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