I received a K-1 from my dad's estate. 11A says STMT and 11C says $56079.
On the 11A STMT it says Total Income (Form 1041 Line 9) -3000 Plus Capital Losses 3000 Less Total Deduction (Line 16) 21694 Total Excess Deductions 21694 Beneficiary's Percentage 50% Excess Deductions on Termination $10847. What do I put on my tax return? When I spoke with the CPA after the estate was complete he told me I would have a loss for several years of $3000. Not sure where the numbers go into TurboTax. Thanks for any help you can provide!
