The K-1s, according to the information you set forth in your previous posts, should have figures on Line 11 (with various codes) since there is a capital loss and also (final year) deductions.
The beneficiaries would share in those final year deductions (on Line 11) unless it was otherwise specified in the terms of the trust.
Please do not take this the wrong way, but posing hypotheticals is a bit improper on this board, which is designed for answers to real income tax issues that arise when users are preparing their income tax returns. If you are thoroughly confused by terms used and/or how to handle varying (hypothetical) scenarios, you should consult, in person, with a local tax professional (which I would recommend for someone in your situation, regardless).
Finally, since this is ostensibly the final 1041, the need for answers to purely hypothetical questions eludes me unless there are other facts that have not been disclosed.
