What forms does the trust use?
Schedule D?
Form 4797? (but the activity was passive, and did not rise to the level of a
business).
Form 8949?
net result is a long term capital loss
- posted 7 years ago
Trust sells rental nonresidential real property
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- posted 7 years ago
Part I of the 4797 if long-term. Part II of the 4797 if short-term.
However, as the there is a loss, you will discover that a Part I loss
gets posted to Part II. Eventually, the Part II loss gets posted
directly to the 1041 Line 7. No 8949 and no Sched D.
- posted 7 years ago
Form 1041 usually. If this is a living trust just report the info your
personal 1040.
Loss on a rental property is allowed. Loss on personal property,
whether on form 1040 or form 1041, is not allowed.
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