We sold a home that was in an irrevocable trust in 2024 and purchased another in the same year because the beneficiary could not manage the original "family" home (in accordance with the trust). The difference in cost for the home purchased was about $47,000 less that the sale of the original family home. $30, 000 was put into a CD in the name of the trust. The remainder was put into a trust checking account and used to pay bills in accordance with the trust. No money was distributed to the beneficiary.
I have entered the sale of the original family home but don't know how to enter the purchase of the other home. Right now it shows that the trust owes $47,000. This is the first time I have tried to do a 1041 and am at a loss.
