It depends. Form 1041, does not have a box 20 on the K1. This indicates to me that you have an additional statement with details of income. If you have income from investments you can enter then directly using the instructions below. Interest, Dividends, Capital Gains are all reported in boxes 1-4. See the instructions for interest and dividends:
To enter your sale in TurboTax, follow these steps.
- Open or continue your return.
- Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
- Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
- Answer Yes to the question Did you sell any of these investments in 2024?
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
- Click this link for more information. Where do I enter Investment Sales?
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