olga-santoro-we s
Level 3
01-17-2025
03:49 PM
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I have to file a 1041 for a trust that has only a house in it. The house was put in the trust as part of a Will. Now that the spouse has also passed, we sold the house and want to distribute all the proceeds from the house sale and a small amount of dividends (the funds were invested for a few months) to the beneficiaries and terminate the trust. I have entered the dividends, and house sale but I am not sure how to enter the distribution of all the house proceeds in Proconnect. The house sale is entered in dispositions but the K-1s are completely empty. We paid taxes on the sale already in 2024 so the beneficiaries should not have to pay any tax. Any suggestion is appreciated.