I know very little about trusts and would appreciate any information on this -
I have a woman that receives a statement from a liquidating trust. It also states it is a grantor trust. The statement show a loss for business income(loss). In TTB 7-10 it states: Passive activity rules apply to individuals, estates, trusts (other than grantor trusts) ...
What happens to this type of loss when it is a grantor trust? Does she get to claim the accumulated losses at the time of disposition?
I have a woman that receives a statement from a liquidating trust. It also states it is a grantor trust. The statement show a loss for business income(loss). In TTB 7-10 it states: Passive activity rules apply to individuals, estates, trusts (other than grantor trusts) ...
What happens to this type of loss when it is a grantor trust? Does she get to claim the accumulated losses at the time of disposition?