Trust Accounting Income Form 1041 Schedule B, Line 8
I cant figure out how this is computed by Turbo Tax Business. This is a Complex Trust and the appropriate box was checked in Turbo Tax
Line 8 shows: -23,730
Inputs should be:
Ordinary Dividends: 3,484
Capital Gain: 12,880
Other Income: 114
Sch E, Line 28 Rental Income or (Loss): 0
(the components are 10,156 loss which includes 4,814 in depreciation.
Form 4952, Line 1, Investment Interest Expense: 21,986
I don’t see how TT computes Accounting Income as -23,730
I cant figure out how this is computed by Turbo Tax Business. This is a Complex Trust and the appropriate box was checked in Turbo Tax
Line 8 shows: -23,730
Inputs should be:
Ordinary Dividends: 3,484
Capital Gain: 12,880
Other Income: 114
Sch E, Line 28 Rental Income or (Loss): 0
(the components are 10,156 loss which includes 4,814 in depreciation.
Form 4952, Line 1, Investment Interest Expense: 21,986
I don’t see how TT computes Accounting Income as -23,730
