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Get your taxes done using TurboTax
A/B type trust. This is the "B" part.
I tried entering the distributions as amounts rather than percentages, but it then just treated the entire income, as well as the carryforward capital loss, as proportionately distributed among all 4 beneficiaries. I also tried going to Forms Mode, but couldn't figure out how to override any of the amounts on the K-1s. I think maybe I see how to do that now.
Thanks, I'll try that again.
Is my thinking correct:
1. Income earned before death attributable to spouse, income after her death goes on children's K-1s?
2. All of the capital loss carryforward should be divided among 3 children, none on spouse's K-1?
‎February 8, 2024
9:34 AM