Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Final K-1 (1065), transfer of interest from personal name to trust

ptax255
Level 5

Hi,

 

Is this transfer taxable in any way? There's no capital gain/loss, but are carry over losses allowed to be deducted as if disposition has happened?

How should this be entered in Proseries?

Thanks!

0 Cheers
1 Comment 1
sjrcpa
Level 15

No, No, and I don't know since I don't use ProSeries.

The transfer to the trust may be a gift requiring a gift tax return.


Ex-AllStar