Question
If I have a loss on the sale of property on an estate, and the $3000.00 cap on the loss to the Taxpayer K1, do I continue to file a 1041 each year until that loss is obtained.
I have a $79,000 loss on the sale of inherited property on a 1041 estate with a K1 to one taxpayer. Of course, the loss is capped at the $3,000 loss per year. Do I continue to file a 1041 with a K1 until the loss is used, or do I file this sale directly on the taxpayer's return instead of filing on the 1041?
