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Get your taxes done using TurboTax
I understand and I will do that. Thank you for your response. I did forget to mention that I do have an SS-4 letter from the IRS that assigned and EIN number for the Trust and in the letter it actually states he is to file a 1041 form. Also, the 1099-S form has the name of the Trust and not him as an individual.
I think that confirms he filed this incorrectly by filing it as a Schedule D Form 1040 on his individual tax return. right, all the amounts aside? As I understand it the IRS is expecting a 1041 since they assigned an EIN and the 1099-S form is in the name of the Trust and doing it the way he did will cause a lot of confusion and mess in the future?
May 6, 2023
7:01 AM