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 i...

Lisa59 · ‎03-21-2023

sjrcpa · ‎03-21-2023

That is the correct presentation for a final 1041.

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

jdeleo1743 · ‎03-21-2023

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.

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.