On the final return of Irrevocable trust, does passive loss pass to beneficiary? Also, on which screen I can indicate it is a Irrevocable trust?

linfeib · ‎12-07-2019

sjrcpa · ‎12-07-2019

For tax purposes it is simple or complex.

The more I know the more I don’t know.

linfeib · ‎12-07-2019

Complex

sjrcpa · ‎12-07-2019

I believe the loss passes out to the beneficiary on afinal return. I don't think the Regs regarding passive losses and trusts ever got written.

The more I know the more I don’t know.

linfeib · ‎12-07-2019

Thank you. Do you know which screen in Lacert that can indicate the trust is Irrevocable trust?

sjrcpa · ‎12-07-2019

None. Your choice is simple or complex.

The more I know the more I don’t know.