@jesnken1 wrote:
Houses sold at a loss at FMV. What line on Schedule K1 does the amount go on that each heir received. And is their a code or letter that goes along with that line.
You do not report distributions of corpus (principal) on your K-1s, only items of income, gain, credits, deductions, and loss (the latter two would be reported on a final return).
If the estate sold the property and had a loss, the pro rata share of that loss can be passed through to the beneficiaries on their K-1s provided the houses were not used for personal purposes (e.g., lived in by a beneficiary). The loss would be long-term and would appear on the K-1s on Line 11 with a D code.
