It doesn't matter whether or not you touched the funds, the basis is still the fair market value of the shares owned on the date of your mother's passing in 202...
@kashblack1953wrote:....or just the form 8824 and a cover letter?You could probably handle it that way but it would be safer to file a 1040-X and include the 88...
You should have reported this exchange on your 2024 tax return. 1031 exchanges that are started in one tax year and completed in the next are normally reported ...
@P_Ohanawrote:.....do you mean that the beneficiaries as well as the original Trust need to pay income tax on the interest income?No, that would be an "either o...
@ThomasM125wrote:You can use the TurboTax Business product to prepare the trust tax return.Yeah, probably not a great idea for anyone who does not have any expe...
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