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M
moeheston
February 20, 2025
Question

Trust lost carry over

  • February 20, 2025
  • 1 reply
  • 0 views

With the Trust Stock loss carry over identified on 1041 for 2023, does the benificiary need to use a 1041 to claim the next 3000.00 or what form do I need to use?

 

 

    1 reply

    DaveF1006
    DaveF1006
    February 25, 2025

    No the beneficiaries do not need to use a 1041 to report a carryover loss from a previous year. When you reported this on your 1041 in 2023, you issued a K-1 to your beneficiaries to report on their own tax returns. If they were not able to use all of the capital loss in 2023, the carryover will then be carried over in their own personal return until the capital loss has been depleted. There are no 1041 considerations at this point. 

     

     

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