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What ever happens to the carryover losses not used up in…

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for johnathan: What ever...
for johnathan: What ever happens to the carryover losses not used up in full when an estate 1041 is final? I see that it was limited to $3,000 on the final return.
Submitted: 2 years ago.Category: Tax
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Answered in 3 minutes by:
3/1/2016
Tax Professional: Jonathan Tierney, Certified Public Accountant (CPA) replied 2 years ago
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 323
Experience: Tax Accountant at Praxair, Inc.
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The carryover losses are reported on the beneficiary's K-1, box 11 as "Final year deductions" so the estate beneficiaries also inherit the carryover losses.

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