Hi, I’m a moderator for this topic and I wonder whether you’re still waiting for an answer.
If you are, please let me know and I will do my best to find a Professional to assist you right away.
I received A GRANTOR LETTER from a liquidating trust.
(Form 1041) It has the following: Interest incomepassive interest income from rental real estate Amortization attributable to passive activities Depreciation attributable to passive activities How do I report these items to the IRS?
If not, feel free to let me know and I will cancel this question for you. The K-1 Part III distribution amounts are reported on your individual 1040 income tax return (and the equivalent form for your state jurisdiction, as applicable). NOTICE: My goal here is to educate the public about the law.
Page 2 of the K-1 (1041) instructions provides a cross-reference of where each line item is reported. Please help me in this effort by clicking Accept for my Answer to your Question.
Along with many other banks, Chase lost millions of dollars before the whole affair was over and, since its name was attached to the REIT, the failure inevitably sullied the bank's reputation as well.
Its Chase Manhattan Mortgage and Realty Trust Company, the biggest of the ill-fated real estate investment trusts, was forced into bankruptcy after many of its billion in construction and development loans had gone sour.It was one of the darkest moments for the nation's third-largest bank.