I am not a tax person. Just someone who received a Grantor Trust Tax Information (from HGR Liquidating Trust) and may be able to add a few more tips to the great advice Irene gave. Hopefully if someone who is a tax pro realizes I am wrong about something you can jump in and save us all. After a lot of false starts, here is what I did:
- Enter the information as if you received a K-1 from a limited partnership
- Once you fill in the basic info about the trust (acting as if it is a partnership), TT will ask you which boxes have numbers in them. Select box 5, 9, 10 and 20
- Enter interest income into box 5
- Enter business property gain or loss into box 10
- Enter unrecaptured section 1250 gain into box 9c
- to deal with the misc. and qualified business info, which is pass through income, enter code Z into box 20. It asks for an amount. I did not put one in because it was not obvious to me what amount should go in there. Not saying that was right but it didn't complain.
- You will then fill in the information about the partnership that has passed through to the Liquidating Trust (In my case, Hines Global REIT. The EIN is on your letter)
Hope this helps. And to paraphrase that old TV commercial: "I'm not a tax guy. I just play one on TV."
