Like Chuckee... It's back! The key to the HGR Grantor Tust Tax Info Letter is to treat it like (and enter it as) a Limited Partnership K-1. The info in the Info Letter "enter on" column this year is much cleaner than last year.
- Interest income on other than US Obligations --> line 5
- L/T Gain or Loss: Business Property Gain or Loss -> 9A (sale of business property)
- L/T Gain or Loss: Unrecaptured Sec 1250 Gain -> 9C (I show none this year, but we used this last year)
The rest is pass-through income (if that is relevant) and with one exception, goes on the form that the letter has in the "enter on" column
- Sec 199A QBI is "ordinary business income"
- Section 199A UBIA "has UBIA of Qualified Property" goes in Box 20, code Z
I hope this helps. I will leave you with two pearls of wisdom:
- Take good notes... HGR still has one property left to dispose of, so you will be doing this again next year
- To paraphrase that old pain reliever add on TV... I'm not a tax expert, I just play one on this message board.
Enjoy!
