- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
On occasion, even with the Final return box checked, capital gains will not flow through to the K-1(s). One method of resolving this situation, so that net capital gains flow through, is to allocate any and all gains to the beneficiary(ies) as outlined below. [See the additional two answers for the associated screenshots]
1) Click the Start/Update button to the right of Allocation of Capital Gains (Loss) and click Continue (first screenshot).
2) Enter the total short-term gain, if any, that is allocated to the beneficiary(ies) and click Continue (second screenshot).
3) Enter the total long-term gain, if any, that is allocated to the beneficiary(ies) and click Continue (third screenshot).
4) Enter the cap gains attributable to income (total of short and long term gains) ad click Continue (fourth screenshot).
5) In the Distributions section, mark Yes, the trust made distributions and click Continue (fifth screenshot).
6) Mark Distribution amounts and click Continue (sixth screenshot).
7) Enter the total amount that was distributed to the beneficiary(ies) (seventh screenshot).
😎 In Forms Mode, check your K-1(s) to ensure the capital gains appear on the appropriate lines.