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Trust has a loss on line 22 of form 1041
How do I carry forward a loss from a trust? Taxable income line 22 is negative.
See instructions, but no (or too much) information. Do I need to file form 1045? Does TT has this form?
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Trust has a loss on line 22 of form 1041
" Do I need to file form 1045? Does TT has this form?"
You would file Form 1045 if the trust has an NOL and you want to determine the amount available for carryback (see link below). Form 1045 is not included in TurboTax products.
Otherwise, if you want to carry an NOL forward, you would make a section 172(b)(3) election to forego the carryback period for the NOL and that election can be made in TurboTax Business.
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Trust has a loss on line 22 of form 1041
" Do I need to file form 1045? Does TT has this form?"
You would file Form 1045 if the trust has an NOL and you want to determine the amount available for carryback (see link below). Form 1045 is not included in TurboTax products.
Otherwise, if you want to carry an NOL forward, you would make a section 172(b)(3) election to forego the carryback period for the NOL and that election can be made in TurboTax Business.
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