My client has a trust that receives a K-1 from rental real estate investments. There was a 1031 exchange last year and now the trust receives K-1s from several states: New York, Ohio, Georgia, Utah, Mississippi, North Carolina, New Jersey, and Maine. Most of these states show a net rental real estate loss in Box 2, which is caused by Federal Special Depreciation Allowance. I have not had much luck finding how each of these states treat a trust with a K-1 loss. Do they follow the same rules as individuals?
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