I'm the trustee for our Mom's estate trust. Due to a rental house we inherited from Mom, we have an accumulated a multi year NOL that the beneficiaries originally decided to carry forward until the year the trust would be closing rather than give the NOL to the beneficiaries each year. The rental house has now been sold and we now want to pass on the NOL to the beneficiaries because we will be closing the trust. How do I get the NOL to show up on the form K-1? And, what line on the K-1 is the NOL supposed to show on? I'm using TT Business for the trust taxes on Form 1041. Is there any other info you need to answer my question? Thanks.
