"Qualified Property" on a Grantor Letter from a Trust (what do I do with it?)

My question relates to filing my 2018 tax return with the IRS.

I have a 2018 Grantor Letter for a trust for which I am a beneficiary. The accountant for the trust opts to give me this letter instead of providing it on a formal K1 (Form 1065).

The trust invests in a real estate fund. The grantor letter shows "qualified property" of $5,000.

It is unclear to me what to do with this figure in Turbotax (Home and Business edition). Where does it go?

I believe it qualifies for some sort of special depreciation (and reduces my tax bill). But I don't see anywhere in the "Schedule K-1 Worksheet" in Turbotax to address this topic/entry.

279

Level 15

Apr 27, 2020 8:23:33 AM

For an entry on a K-1 in Box 14 (I Code), you would enter that after the entry of the K-1 in one of the follow-up screens.

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"Qualified Property" on a Grantor Letter from a Trust (what do I do with it?)