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Thomas McJD
Thomas McJD, Tax Attorney
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is the law changing that allows beneficiaries to take the capital

Resolved Question:

is the law changing that allows beneficiaries to take the capital loss on a trust return in the final year of filing the trust?
Submitted: 2 years ago.
Category: Tax
Expert:  Thomas McJD replied 2 years ago.

Hello, I will be happy to assist you. After receiving your answer, and unless you have need for clarification, your accept (by clicking the green "accept" button) would be appreciated. Although you have made a deposit, I cannot receive credit for my work without your accept.

 

To my knowledge, it has been the law for some time that capital losses may carryover to the beneficiaries during the final year of the trust (but not before).

 

Thus, there's no change in the law that I'm aware of -- it's been that way for some time.

 

 

I believe I have answered your question. As noted above, please let me know if you need clarification, and if not your accept would be appreciated. If you are a monthly subscriber, you must still click the "accept" button for me to receive credit for my work, but you will not be charged an additional fee.

 

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Thomas McJD, Tax Attorney
Category: Tax
Satisfied Customers: 6515
Experience: Experienced Tax Attorney
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