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Get your taxes done using TurboTax
Ok ... first the trust will file the form 1041 and issue each beneficiary a K-1 form reporting the net gain being passed thru to them. The selling price & cost basis will be reported on the 1041 NOT your personal tax return.
If you are completing the trust return then you need to use the correct program for a 1041 ... you will need the downloaded BUSINESS program for windows ... there is no online or mac version : https://turbotax.intuit.com/small-business-taxes/
‎June 8, 2022
6:56 AM