Question
T3 trust return, Net capital losses carryforward
All income in T3 is allocated to one/only one beneficiary. But in 2021 a capital loss ($893) was created and has been carried forward. How can the Net capital losses of other years be applied in 2023's return?
Is this a valid solution?
If 2023 income in the trust exceeds this carryforward capital loss, can income in the trust of $893 be retained to the amount to offset the carryover capital loss still bringing the net income to zero and still allocating all the remaining income to the benificiary (less $893)? Can it still be Efile'd?
