<< The beneficiaries would share in those final year deductions (on Line 11) unless it was otherwise specified in the terms of the trust. >>
To be clear, I do not believe the trust addresses this, other than what we already discussed in terms of the 150K maximum. Is that what you mean by "otherwise specified"?
<< 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. >>
Unfortunately, due to worries about keeping reserves for possible tax consequences and some other bills, the distributions to the variable beneficiaries did not happen until January of 2022, so I imagine there will need to be one more year of trust returns.
Thanks again!
