My question relates to filing my 2018 tax return with the IRS.
I have a 2018 Grantor Letter for a trust for which I am a beneficiary. The accountant for the trust opts to give me this letter instead of providing it on a formal K1 (Form 1065).
The trust invests in a real estate fund. The grantor letter shows "qualified property" of $5,000.
It is unclear to me what to do with this figure in Turbotax (Home and Business edition). Where does it go?
I believe it qualifies for some sort of special depreciation (and reduces my tax bill). But I don't see anywhere in the "Schedule K-1 Worksheet" in Turbotax to address this topic/entry.
