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cvontres
New Member

I received a 2019 K-1 for a trust whose final reporting was mid-year in 2020. TurboTax assumes 2020 K-1, with box 11 having different meanings. How do I enter a 2019 K-1?

TurboTax assumes 11-b is excess deductions rather than short-term capital loss carryover. How do I ensure TurboTax reports it properly? Do I just log it in 11-c, since that's where capital loss carryover is now housed for 2020?
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2 Replies
M-MTax
Level 12

I received a 2019 K-1 for a trust whose final reporting was mid-year in 2020. TurboTax assumes 2020 K-1, with box 11 having different meanings. How do I enter a 2019 K-1?

They changed the forms from 2019 to 2020 so you have to put that capital loss carryover on the right line for 2020.

DavidD66
Expert Alumni

I received a 2019 K-1 for a trust whose final reporting was mid-year in 2020. TurboTax assumes 2020 K-1, with box 11 having different meanings. How do I enter a 2019 K-1?

If the final reporting date for the trust was in 2020, you would file that K-1 on your 2020 tax return.

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