Answered: Re: Trust Capital Gains taxation

Strongsilence-CPA · ‎01-28-2021

My 1041 for 2019 is taxing capital gains at ordinary income rates. (They are not distributed out to the beneficiaries.) Why does it assume ordinary treatment? And how can I choose capital gains tax rates?

Accountant-Man · ‎01-29-2021

How much is the LTCG income?

What does it say at the bottom of the Sch D? How much is taxed at 0%? 15%?

** I'm still a champion... of the world! Even without The Lounge.

View solution in original post

sjrcpa · ‎01-28-2021

Short term?

How much other income is there?

The more I know, the more I don't know.

Strongsilence-CPA · ‎01-28-2021

It is Long Term.

There is no other income.

I don't do that many trusts but I do think ordinary income treatment is not correct.

Accountant-Man · ‎01-29-2021

How much is the LTCG income?

What does it say at the bottom of the Sch D? How much is taxed at 0%? 15%?

** I'm still a champion... of the world! Even without The Lounge.

Accountant-Man · ‎01-29-2021

Strongsilence, you marked mine as the solution. Was it 0%, 15%, etc?

** I'm still a champion... of the world! Even without The Lounge.

Trust Capital Gains taxation

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