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After talking to support, I finally understand why the K-1 information is correct. I wasn't taking into account the Schedule D worksheet which would reconcile t...
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But how is the beneficiary supposed to report that on their return? The instructions for the K-1 say that the number on line 4a which is the "net long term capi...
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But that is not what the software is calculating. The entire gain shows up on the K-1 as capital gain and then the amount of the depreciation also shows up as ...
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After doing some further research, I don't believe it is correct that there should be capital gain tax on the basis after deducting depreciation - and also depr...
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I have a trust which owned a residential rental property which was sold in 2020. When I enter the details, the program is calculating capital gain after deducti...
