The form 1041 was due 9/15 if they were on extension ... so if it is not marked final then you will need to wait for this information every year. Since they did not send a formal K-1 form you are required to enter the information in the proper sections of the tax return ...
Interest Income.....8 Enter as bank interest
Short Term Capital Gain (Loss)....-500 enter as cap loss on Sch D
Other Income....
Settlement Income.....25
Other Income...............0
You can report it as other income on Sch 1 line 8. Here's how to enter it in TurboTax.
- Click the Federal Taxes tab ( Personal in the Home & Business version)
- Click Wages & Income. (Personal income in the H & B version)
- On the screen "Your 2019 Income Summary," scroll all the way down to the last section, "Less Common Income."
- Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."
- On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."
- The next screen asks, "Did you receive any other taxable income." Click Yes.
- On the next screen, "Other Taxable Income," enter a description and the amount. Click Continue.
- On the next screen click Done.
