Question

Grantor Letter

Forum|Forum|1 year ago
March 13, 2025
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A Grantor Letter I received contains " Realized Loss on Marketable Securities" with an amount. Where do I put this amount? This will be ongoing yearly.

DaveF1006

You would enter the information reported on the Grantor Tax Advice Letter as if it were reported to you on a Form 1041 K- Here is how to report.

Open your TurboTax return
Go to income
Go to S-corps, Partnerships, and Trusts
Schedule K-1
Estates or trusts (Form 1041)
Fill out the information and make sure you indicate this is the final K-1 for the trust
Check Box 5.
When you record the information in box 5, record the loss with a minus sign in front of it.