housecallstax
Level 1

Specific bequest business assets had to be sold at a loss to pay estate administrative expenses.  There were no residuary assets.  Do the losses go on the final K-1s of the specific bequest beneficiaries?  Or, just on the final K-1 of the residuary beneficiary who received no distributions?  Or, are these excess deductions which are no longer deductible by anyone? Tax regulation citation?

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