wjh4848
Level 2
08-05-2024
11:25 AM
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I have a final grantor irrevocable trust. The grantor passed away in February 2024 and the Trustee (my client) sold the personal residence in May 2024. That was the only thing in the trust. How is this entered on the 1041 since I was told to have him claim a Section 645 Election for the property?
This is the First Trust Tax Return I am doing.
Thank you.
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sjrcpa
Level 15
08-05-2024
12:50 PM
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You enter the sale on Sch D/8949.
The 645 election is unrelated to the sale or the property.
The more I know the more I don’t know.
wjh4848
Level 2
08-05-2024
03:38 PM
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Can you also please tell me what I choose in Section A on page 1 of the 1041?
