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Question

How do I go about reporting grantor trust income or loss?

Forum|Forum|3 years ago
April 3, 2023
1 reply
0 views

I have a fractional interest in two real estate holding trusts which are grantor trusts on whose income or loss is reportable on my form 1040. Using Turbo Tax, how do I report these items?

TurboTax Premier Online

You should receive a 1041 K-1 from each of these trusts. Go to investment income and click start next to the button for K-1 form and enter all of the numbers from that form.

If you haven't received the K-1s yet then you may need to extend your tax return while you wait for them. Contact the administrator for the trusts and see when the tax return is expected to be filed.

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