Hi,
After entering my 1099B I'm showing a total loss of $1760 on my 1041, however the my short term carry over from Schedule D is only $1641. So I still have $-119 income. I don't think this loss can be passed to the beneficiary? What do I do with this?
@Contango72 wrote:
I don't think this loss can be passed to the beneficiary? What do I do with this?
Net losses remain with the trust until the trust is terminated and the final 1041 is filed for the trust.
Losses will carry forward to subsequent tax years until the trust terminates.
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