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Get your taxes done using TurboTax
Ok, I have to create a K-1 for the other beneficiaries since one's CPA is asking for one. I had to download a copy of the Business edition since for some reason my purchased CD would not load. Here is my situation: Home in Trust of deceased parent was sold in the year she died, 2021. There is an overall loss on the sale. When I look at the K-1s for the beneficiaries, there are 5, there are the distributions on each but no other no amounts, no tax deduction. I look at the K-1 worksheet and I have amounts in 11A $3,162, 11B $1,237 & 11D $11,237 but no other amounts in the rest of the worksheet. What am I missing to do or have done wrong that the tax deduction is not transferring to the K-1s to be sent to the beneficiaries?
‎April 7, 2022
8:28 PM