My mother's estate (in a trust fund) settled in December 2016. The trust fund had a loss. Do I need to claim loss less than $500

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My mother's estate (in a trust fund) settled in December 2016. The trust fund had a loss. Do I need to claim loss less than $500

You should report the information that was issued to you on the Form 1041-K1, regardless if it is positive income or negative income. The loss will reduce your overall income which will reduce tax.

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My mother's estate (in a trust fund) settled in December 2016. The trust fund had a loss. Do I need to claim loss less than $500

You should report the information that was issued to you on the Form 1041-K1, regardless if it is positive income or negative income. The loss will reduce your overall income which will reduce tax.