Business & farm

Hi @Smth86 

I think you mean you have a K-1 from a trust. You are asking about line 11 on the K-1, not the 1041, right? The 1041 is the tax form the trust files. (It is the trust version of the 1040).

Am I also right in gathering that on the k-1 you received from the trustee in box 11 it says something like "see statement" and you have a statement listing amounts for capital losses, total deductions, and deductions in excess of income, and excess deductions on termination?

To enter those on your 1040, get yourself into the K-1 Trust interview (get there by searching for k1 and choosing "jump to k1")

As you go through the interview tell TT that you have entries in box 11 and it will ask you for the details. See below. You may need more help or guidance from us or from your trust's trustee to determine exactly where to enter. Hopefully they gave you that info (e.g. short term capital loss or long term capital loss).