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Deductions & credits
Are these Schedules K-1 marked as Final? In the final year of an estate or trust, current year excess of deductions over income is passed to the beneficiaries on Line 11 and should flow to the Miscellaneous Itemized Deductions Worksheet for Schedule A.
The "Final K-1" box must be checked in order for the flow-through to happen.
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March 22, 2023
1:34 PM