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Form 1041 Capital Gains Input

Hub
Level 4

I have many capital gains for Schedule D on a 1041 this year and do not want to attach the brokers statement of gains and losses as they will be reported under the deceased Social Security number since the trust number and the trust account did not get set up until after the transactions. 

I can note the adjustments on the return. The Schedule D seems to only be allowing 2 transactions. How can I add an additional schedule D form?

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Just-Lisa-Now-
Level 15
Level 15

"The Schedule D seems to only be allowing 2 transactions."

You can make as many entries on Sch D as you'd like, once youve completed one, just keep hitting the Enter button or Page Down button to go down to the entry table. 

When those first 2 fields are empty it only looks like you can make 2 entries, but once youve got those first 2 completed, you're allowed to move forward and fill out more.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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3 Comments 3
BobKamman
Level 15

Are you saying you want to do it the right way?  Then just attach the pages that show the post mortem transactions.  Add them up and just show the total on the 1041 Schedule D.  The problem you might have is with the 1040, where the transactions you report will be less than what is on the 1099-B.  I think there are some instructions on how to deal with these as "nominee distributions."

You really think anyone at IRS is going to look at whatever you attach to the 1041?  As they say at IRS, "ask me if I care."

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Just-Lisa-Now-
Level 15
Level 15

"The Schedule D seems to only be allowing 2 transactions."

You can make as many entries on Sch D as you'd like, once youve completed one, just keep hitting the Enter button or Page Down button to go down to the entry table. 

When those first 2 fields are empty it only looks like you can make 2 entries, but once youve got those first 2 completed, you're allowed to move forward and fill out more.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Hub
Level 4

Thanks Lisa

You were spot on with the solution.