I understand that the unused loss carry-forwards will be allocated to trust beneficiaries on the K-1s for the Trust's final return (2023). But can the trust beneficiaries utilize the loss carry forwards from that K-1 to reduce 2023 the beneficiary's taxable income? Or do they have to wait until 2024 to utilize the loss carry-forwards since the Trust will have reduced Trust taxable income on its final 2023 return by $3,000 of loss carry forwards which is the maximum amount the Trust is allowed per year?
