Level 3

SALE OF MAIN HOME, OF A RVOC TRUST, IN PROSERIES PROFESSIONAL

Forum|Forum|3 months ago
March 5, 2026
2 replies
18 views

I have never done a tax return for a deceased client. The trust has sold both the homes in the year 2025 the relative died. I have followed the instructions of placing the sale on the Schedule D, but I can't get it to transfer to the 1041.

Also one of the beneficiaries as received a sum of money from the Trust. Where do I submit the information on the K-1.

Thank you in advance for your wisdom in helping me navigate through this Trust.

Practice Advice

K

Karl

Intuit Community Champion

I would repost this in the ProSeries channel. You'll get more eyes on it there than over here.

I use Lacerte and I don't do trusts, so I won't be much help to you.

But while I don't do trusts, was there anything that should carry over from Sch D to the 1041 after the step-up in basis?

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*

S

sillysylAuthor

Level 3

THANK YOU.

BobKamman

Level 15

How many homes were sold? This was after the owner died? It doesn't really matter if (one of them) was a main home, trusts are not ghosts with a principal home to haunt. You probably have a loss, after selling expenses. You're filling out 1041 Schedule D? It should carry over to the 1041 but maybe a loss, with no income to offset it, doesn't appear there.

The amount of distributions to beneficiaries doesn't show up on the K-1. Just the share of distributable income. You might not even need K-1s, if there was no income. Unless it's a final return and you want to distribute the capital loss and other deductions that might be claimed on Schedule A.

S

sillysylAuthor

Level 3

THANK YOU

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