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I am preparing a final year tax return 1041. I have current year LT losses that are not showing as LT loss on the K-1, they are being forced onto Line 11 Code D. This is not a loss carryforward it is a current year loss.

Lisa59
Level 1
 
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2 Comments 2
sjrcpa
Level 15

That is the correct presentation for a final 1041.

The more I know, the more I don't know.
jdeleo1743
Level 2

That is proper way to report the loss.  The beneficiary succeeds to the loss in the final year.  They pick it up on their schedule D.