Thanks M-MTax for the quick reply. I was delayed in looking for a reply.
We had rental income but were slowly fixing up the house for sale when, per the trust, it was to close in 2025. So we have an NOL for each year that was carried forward each year since 2022. When I ran a 'test' return to see how the NOL would carry forward to the K-1s, nothing carried forward. Hence my question. Is TT Business supposed to move the NOL to the K-1s per each beneficiary's percentage? I also tried making the 'test' return the final year and the NOL still did not move to the K-1s. What am I missing? Thanks.
