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chester7
New Member

Carryover Capital Gain Loss Not Showing on K-1s

I am using Turbotax Business for Trusts and Estates.  I'm filing the final return for the estate.  There are 4 beneficiaries.   There is a large carryover capital gain loss (from previous years already in the return)  that needs to be distributed to all beneficiaries on their K-1s since I am closing out the estate.  How can I trigger the carryover loss for each beneficiary so everyone receives a percentage on their K-1? Currently, it is showing nothing on the K-1s.

1 Best answer

Accepted Solutions
tagteam
Level 15

Carryover Capital Gain Loss Not Showing on K-1s

Enter Forms Mode by clicking the Forms icon in the upper right side of the screen.

 

Open your K-1s, scroll down to the Beneficiary's Smart Allocation Worksheet, and enter each beneficiary's percentage of the income distribution deduction (see screenshot).

 

bene.png

View solution in original post

1 Reply
tagteam
Level 15

Carryover Capital Gain Loss Not Showing on K-1s

Enter Forms Mode by clicking the Forms icon in the upper right side of the screen.

 

Open your K-1s, scroll down to the Beneficiary's Smart Allocation Worksheet, and enter each beneficiary's percentage of the income distribution deduction (see screenshot).

 

bene.png

View solution in original post

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