Ruth1
Level 4
12-07-2019
04:26 AM
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Trusts sold a piece of Real estate at a loss so my research tells me it is the trusts loss and not the beneficiary's. I am perplexed as to why final year deductions are flowing through to the beneficiary's. They do not get the loss but they do get final year deductions? The FYD is the selling expense on the property. Thank you for any help.
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sjrcpa
Level 15
12-07-2019
04:26 AM
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In the final year of a trust everything flows out to the beneficiaries - income, gains, losses, deductions.
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Ruth1
Level 4
12-07-2019
04:26 AM
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Thank you!
sjrcpa
Level 15
12-07-2019
04:26 AM
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You're welcome
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