Irrevocable Trust

[S T]

Have an Irrevocable Trust, final year, has capital losses and deductions on termination.

Do these pass through to the beneficiary that receives the proceeds of the Irrevocable Trust?

I have never filed a final on an Irrevocable Trust before.

Thanks for any assistance.

Sandy

[BHoffman]

http://www.calcpa.org/content/NR/exeres/A7939B5B-63C4-48E0-9A1D-EE5ABF09C626.aspx

Hi Sandy - here is a link that talks about capital losses being passed to the beneficiaries from a final irrevocable trust return. Hope this helps.

[S T]

K-1 Form

Thanks B,

Just wasn't sure as this was an irrevocable trust from the beginning, and the original beneficiary passed away, and the new beneficiary received the balance in the account.

Appears as though on the final termination, all income and carryover losses and excess deductions on termination pass through.

As always, thanks for your posts and you assistance,

Only what is it 5 days or 6 days left depending on time zone!

Sandy