turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Grantor Letter Entry in TT; Income & Expenses on K-1 or Schedule E if I have Depreciation

I'm using TT Premier Desktop.  I received several grantor letters for my DST (Delaware Statutory Trust) investments.  I see in previous posts to enter data from Grantor Letter into K-1 template; however I also am calculating depreciation based on my DST purchase price.  For those assets, the depreciation shows up on Schedule E but my net passive income, amortization and interest income show up on the K-1 Trust form.  This seems to be a disconnect with activity across two forms.  Shouldn't all the activity show up on one form to match income with expenses?  Because I'm using Schedule E for depreciation, should I also transfer the passive income and amortizatoin to Schedule E except for interest income which I can list on Schedule B?  Or is there a way to link the assets to the K-1 Trust form?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Grantor Letter Entry in TT; Income & Expenses on K-1 or Schedule E if I have Depreciation

The k-1 reporting method may not be in accordance with the iRS and Regs reporting methods

https://griffinbridgers.substack.com/p/does-my-grantor-trust-need-an-ein . 

https://griffinbridgers.substack.com/p/income-tax-reporting-methods-for 

 

 

others have argued that the k-1 reporting method is fine. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies