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Get your taxes done using TurboTax
It's the final year for the recipient trust, but there are capital gains that the property taxes will be deducted from, so the beneficiaries of the trust will get a pass-through of a reduced net capital gain, but won't be getting a pass-through of the tax deduction.
And as previously noted, whether the trust's 1041 puts the deduction in the Taxes line or the Other Deductions line affects the AMT calculation on Sch. I.
So my question is: since the TurboTax step-by-step didn't ask me what kind of itemized deduction this is, what's the best way for me to move it to the Taxes line. Just a manual override?
(As I said, I'm new to TurboTax, and I realize this may be kind of a beginner's question.)
‎February 21, 2023
10:13 AM