Trust: capital gains

stilldeader · ‎March 16, 2020

Trust: capital gains (home sale) after DOD and facial year? DOD 05/15/19. Facial year 05/31/19. Home sold 12/15/2019. We're using Business turbo. Why can' t we enter the gains?

Anonymous_ · ‎March 16, 2020

@stilldeader wrote:

Trust: capital gains (home sale) after DOD and facial year? DOD 05/15/19. Facial year 05/31/19. Home sold 12/15/2019. We're using Business turbo. Why can' t we enter the gains?

On which date does (did) your fiscal year end? You cannot enter a transaction that occurred after the end of the fiscal year.

Regardless, this is a common occurrence - check the tax year you selected for your return (e.g., calendar year, fiscal year (start and end dates), etc.) and make sure the transaction occurred within that tax year.

View solution in original post

Anonymous_ · ‎March 16, 2020

@stilldeader wrote:

Trust: capital gains (home sale) after DOD and facial year? DOD 05/15/19. Facial year 05/31/19. Home sold 12/15/2019. We're using Business turbo. Why can' t we enter the gains?

On which date does (did) your fiscal year end? You cannot enter a transaction that occurred after the end of the fiscal year.

Regardless, this is a common occurrence - check the tax year you selected for your return (e.g., calendar year, fiscal year (start and end dates), etc.) and make sure the transaction occurred within that tax year.