OK thanks. Section 1231 Loss makes sense. I am the trustee and also one (of two) of the beneficiaries. Even though the transaction took place in 2023 and the proceeds will be distributed probably by January 10, I would prefer to take the loss in 2024 to offset ordinary income in 2024. My income isn’t too high for 2023, so I would like to wait to take that loss until 2024 if possible. Maybe filing an 8855 would accomplish that?
