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Level 2
November 2, 2024
Question

Does anyone know how to pass capital losses to beneficiaries on the final 1041?

  • November 2, 2024
  • 1 reply
  • 5 views
The instructions to Schedule D recommend attaching a schedule allocating losses to the beneficiaries. What say you?
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1 reply

IRonMaN
Level 15
November 2, 2024

You can't.  They get carried forward to offset future capital gains or until the final year of the entity.

Slava Ukraini!
pdictosAuthor
Level 2
November 2, 2024

This is the final year

 

IRonMaN
Level 15
November 2, 2024

If the return is marked as final, things should flow.  Have you reviewed the K-1 to see if there is anything in box 11?

Slava Ukraini!