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Get your taxes done using TurboTax
Thank you. I included the sale of the house in turbotax (business version), which showed a loss due to the stepped up basis, and the expenses incurred to sell it (looking at Form 8949). Turbotax generated K1s for us three beneficiaries. However, boxes 1-14 on all K1s are blank. I would think it should reflect the loss, yes? The K1 worksheets do reflect the correct income required to be distributed for each beneficiary. I've been combing through the worksheets and interviews in turbotax to see where the problem is. I even deleted the estate tax filing and started over with the same K1 result: blank boxes. Shouldn't the K1s sh ou w the loss? Where am I going wrong?
‎February 22, 2020
11:54 AM