Question
Distribution of long-term capital loss carryover from Trust to Individual
My beneficiary trust has received a LT term capital loss from another (main) trust which was specified as under code "D" in box 11 of Schedule K-1. I would like to pass that carryover loss on to the individual beneficiary of my trust, and I'm trying to do that using under the Turbo Tax Business 1041 Distributions tab, but I'm not sure if that's the right place. I know that I need to create a K-1 to pass on to the individual beneficiary. I specified the income to pass on to the beneficiary via the Distribution tab. But where and how do I specify the capital loss "pass on"? It's not clear.
