I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

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I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

Because you have $80 in dividends.

Line 4a is capital gains....did you have other capital losses, maybe from stocks or a carryover loss in prior years that's offsetting the $8441?

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

Thank you for your reply! In 2018 we had a $17k+ loss from a long term covered security that we owned and sold personally. Is that what's offsetting the $8441 cap gain that we received from a trust?

I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

Thank you!!

I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

Youre welcome!

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

Sounds like it, your carryover losses from 2017 have offset that 8441 in gains for 2018.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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