1. Yes…I want to see the capital gains passed through to the K-1’s and then deducted from the 1041. However, the gains are passed to the K-1’s but there is no deduction seen on the 1041. That is my issue.
2. Yes…the stock transfer into the trust is not reported. However, for my 3 siblings, stock was sold to provide them a distribution in cash. That sale of stock incurred capital gains in the trust (as mentioned above in #1). However, TurboTax will not allow me to allocate the capital gains to just my 3 siblings. It wants to divide it based upon distribution.percentage and as a result, my K-1 is reflecting capital gains (even though my distribution was a stock transfer that incurred no capital gains). I hope that makes sense.
Thank you for your interest and response!!! I’ll keep playing with the software.
