Trust sells rental nonresidential real property


P

Pico Rico

What forms does the trust use?

Schedule D?

Form 4797? (but the activity was passive, and did not rise to the level of a
business).

Form 8949?

net result is a long term capital loss
 
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A

Alan

What forms does the trust use?

Schedule D?

Form 4797? (but the activity was passive, and did not rise to the level of a
business).

Form 8949?

net result is a long term capital loss
Part I of the 4797 if long-term. Part II of the 4797 if short-term.
However, as the there is a loss, you will discover that a Part I loss
gets posted to Part II. Eventually, the Part II loss gets posted
directly to the 1041 Line 7. No 8949 and no Sched D.
 
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R

remove ps

Pico said:
What forms does the trust use?
Form 1041 usually. If this is a living trust just report the info your
personal 1040.
Schedule D?

Form 4797? (but the activity was passive, and did not rise to the
level of a business).

Form 8949?

net result is a long term capital loss
Loss on a rental property is allowed. Loss on personal property,
whether on form 1040 or form 1041, is not allowed.
 

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