I had to download a copy of the Business edition since for some reason my purchased CD would not load. Here is my situation: Home was held by a Revocable Trust at the time of parent's death and was sold in the year parent died 2021. Parent died in Feb. and home sold in Aug., Yes on Initial and Final Returns, Short Year. System creates the entity type as Decedent's estate and NOT a Trust. Wife is designated as executor in the system. Common Practice fields: Yes for final return, no on all others. Entered 5 beneficiaries of the trust. Only data entered on Income Page is Home sale information, home was not used for personal, end result is a loss on the sale. Entered deductions for Executor fees, cost of Turbotax and property taxes. Entered the distributions to the 5 beneficiaries which was the net sale of the home. We did not enter anything in the Other tax situations. Doing all of this will not create any figures on the K-1. Not even the distributions. What I see the system does create, a Capital Loss CO worksheet and in the K-1 worksheet the only amounts entered are in 11A, 11B & 11D. What am I doing wrong that I am unable to get the system to recognize the distributed amounts and the loss, which should be distributed equally to the 5 beneficiaries onto their K-1s? Why is the system creating a carryover loss for a inherited home sale from a trust of a deceased person?
