L.S. Posted March 12, 2009 Report Share Posted March 12, 2009 Preparing a final return for a revocable living trust. There are $297 worth of capital gains from investments. Does this stay with the trust as income or is it passed through to the beneficiaries? When I enter this amount it comes to Line 4 on the front page, but then on Sch D, page 2 it shows up under 14a(1) Beneficiaries - should this be shown under (2)Estate's or trust's? It looks like this is passing on to the beneficiaires on their K-1's and maybe is correct as 14a(1) - but why does it show up on the page one of the 1041 on Line 4? There was also a sale of farm on 4797. There were sellers expenses paid including a pro rata of real estate taxes. I added this to the cost of the farm. Is this correct or should it have been shown on the front on Line 11 for taxes paid? Thank you. Quote Link to comment Share on other sites More sharing options...
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