I may have already posted this question so apologies if I did.
I've already filed my 1040 but I may have a capital loss from the sale of a home that was in a Trust. If I do indeed need to file the K-1 in the 1040X what is the simplest way to accomplish this?
Also, it's my understanding that adding the K-1 will automatically populate (in this case a loss) schedule D and I'm limited to $3,000/year to have capital losses offset capital gains.
Finally, I read that the K-1 can only be filed once the Trust is closed. Is this true?
Thank you for the help!
