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June 2, 2019
Question

I have a K-1 from form 1041 w/amounts in boxes 2a ($80), 2b ($80), 4a ($8441) & 14 (B-$12, H-$0). When i'm done with the questionnaire my AGI only goes up by $80. Why?

  • June 2, 2019
  • 5 replies
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5 replies

June 2, 2019
Thank you for your reply!  In 2018 we had a $17k+ loss from a long term covered security that we owned and sold personally.  Is that what's offsetting the $8441 cap gain that we received from a trust?
Lisa995
Employee
June 2, 2019
Because you have $80 in dividends.   

Line 4a is capital gains....did you have other capital losses, maybe from stocks or a carryover loss in prior years that's offsetting the $8441?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
June 2, 2019
Thank you!!
Lisa995
Employee
June 2, 2019
Youre welcome!
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Lisa995
Employee
June 2, 2019
Sounds like it, your carryover losses from 2017 have offset that 8441 in gains for 2018.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪