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March 28, 2022
Question

I received a Grantor Trust Tax Information letter in that letter. The forms for entry are 4797 Part I, 8995-A. I can't enter in form 4697 and 8995-A does not exist.

  • March 28, 2022
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2 replies

Employee
March 28, 2022

Contact Support.

 

What is the TurboTax phone number? (intuit.com)

 

They might have you enter this as if you received a K-1 (or else you may have to switch to a desktop version of TurboTax).

March 30, 2022

What investment does the Grantor Trust Tax Information concern?  Is it Grayscale Bitcoin Trust, or the Silver Trust?  Generally, these letters provide, among other things, the method by which shareholders can determine their cost basis, gain or loss, based on their pro rata share of the trust assets that have been sold to cover trust expenses.   

 

After determining whether you have a gain or loss, enter that information into TurboTax and Form 4797 will be created.  You should not have to separately enter information on Form 4797 or Form 8995-A.  

 

@JimC11

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