Question
CA 541 K-1 excess deductions upon termination adjustment issue
Final Trust return with excess deductions upon termination from Fiduciary fees, legal fees, and tax prep fee deductions.
The CA K-1 is adjusting out the excess deduction on termination (Line 11a) and adding the same amount to NOL carryover (line 11c and 11d).
I think this is a mistake in the program as there is no adjustment of the Federal excess deductions upon termination in the 2024 541 booklet.
Anybody else see this? Thanks in advance.
