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pattypuzzled
Level 2
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  • I am the only beneficiary who lives in Illinois where the trust was created. Where would I add the LTCL on the K-1-T for Illinois? Would it be considered a "sub...
    pattypuzzled
    1
    Updated Mar 02, 2021
  • Hi,In the end the K-1 only has an amount in 11 on the K-1 and listed as "D". This is the final 1041 return.
    pattypuzzled
    4
    Updated Mar 02, 2021
  • Yes, with all the 2020 figures added the Trust still shows a loss.
    pattypuzzled
    6
    Updated Mar 02, 2021
  • Thank you for your response. There is a loss after the sale in 2020 which leaves a smaller loss for the Trust in 2020. Never the less, it is still a loss. I am ...
    pattypuzzled
    Updated Mar 02, 2021
  • I am preparing the final return for a Trust which has a carry-over capital gains loss from previous years. We sold land in 2020 which resulted in a gain to the ...
    pattypuzzled
    2
    Updated Apr 21, 2022
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