Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Beneficiaries

Print capital losses on a final year return on Schedule K-1, line 11

To print capital losses on Schedule K-1, line 11 for a final year return:
  1. Go to
    Organizer
    ,
    General Information
    , and then
    Return Options - Irrevocable Returns
    .
  2. Select
    Compute Options
    .
  3. In the
    Compute option 223 - Presentation of current year capital losses on final year returns
     section, select
    Distribute capital loss to the beneficiary on final year (Default)
    . By choosing the default option, the current year capital loss will show up on Schedule K-1, line 11 as excess deduction with code B or C, depending on the property of the loss.
  4. Also, go to
    Organizer
    ,
    General Information
    , and then
    Return Options - Irrevocable Returns
    .
  5. Select
    Misc Options
    .
  6. Make sure the
    Options 12 Net capital loss carryover against current year capital gains/losses for purposes of Schedule K-1 allocations and charity computations
     isn't selected.

This article applies to:

  • PRODUCT: GoSystem Tax RS
  • Return type: 1041 Fiduciary
  • Subject: Print
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close