PatriciaV
Expert Alumni

Investors & landlords

Your best option is to make your calculations and allocations in a spreadsheet before entering on the IRS forms. This allows you to use formulas and check that your intended entries will balance to Form 1041.

 

If you are reporting investment sales, you do need to complete Form 8949, which flows to Schedule D. However, if the investments were distributed to the beneficiaries and not the sales proceeds, you wouldn't include those forms.

 

Manually entry to IRS forms is tedious and can lead to serious errors. You may consider using a TurboTax Live expert to help with this. Or contact a local accounting professional.

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