Question

Estate trust K1 Line 14

Forum|Forum|4 years ago
March 29, 2022
1 reply
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My Wife is a beneficiary of her father’s estate trust. The K-1 has line 14 with code I. The K-1 Statement lists 2 items: Rental real estate income (non-sstb), and section 199a Unadjusted bias.

I can find no way to enter this information.

Turbotax asks me if the income is from a business held by the estate. The answer is no, but then it wants me to enter REIT dividend info. But that doesn’t apply.

If I answer yes, it wants the name and ID of the business. However their is no business held by the estate. I’m stuck, Can’t get past this.

any ideas?

T

ThomasM125

The rental income would be treated as business income for section 199A purposes, so you should check the box that says Yes, some or all of this income is from a business. The name of the business will be the name on the K-1 schedule and the EIN of the business would be the identification number on the top of the K-1 schedule. In other words, the estate is renting out property so the estate is a business identified by its federal ID number for section 199A purposes.

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