Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate or trust, including ...

Q. I am expecting a loss from the sale of my mom’s two-family house that I inherited. It was reported to me on a Form 1041, K-1. Can I offset this loss from sale of property against any gains in my ...