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"Allocation of long-term gain" section - what is: 28% rate gain?
hi - I'm working on a trust tax return using the "business" and trust version of turbotax.
In the section "Allocation of long-term gain", there is a box for 2019 "28% rate gain".
I don't know If that's a question or what exactly they are asking for in that box. I've already stated the long-term capital gain amount given to beneficiaries. Is TT asking if some portion of the long-term capital gain will be taxed at 28%? I don't see any help available (am I missing something).
Thank you!
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‎February 29, 2020
12:14 PM