Grantor Letter

[tomtaxone]

A Grantor Letter I received contains " Realized Loss on Marketable Securities" with an amount.  Where do I put this amount?  This will be ongoing yearly.

[DaveF1006]

You would enter the information reported on the Grantor Tax Advice Letter as if it were reported to you on a Form 1041 K- Here is how to report.

1.  Open your TurboTax return
2. Go to income
3. Go to S-corps, Partnerships, and Trusts
4. Schedule K-1
5. Estates or trusts (Form 1041)
6. Fill out the information and make sure you indicate this is the final K-1 for the trust
7. Check Box 5. 
8. When you record the information in box 5, record the loss with a minus sign in front of it.