@luke622 wrote:
Also, someone on here said the IRS has determined that excess deductions are no longer allowed. Wrong.
Excess deductions - Section 67(e) expenses are allowed (from K-1 (1041) Line 11A).
Not all excess deductions on termination (non-miscellaneous itemized deductions) are allowed (from K-1 (1041) Line 11B). If such deductions are allowed, they are entered on Schedule A.
See https://www.irs.gov/instructions/i1041sk1#idm140535812810848
Contact the trustee, administrator, executor, or other person responsible for preparing the 1041 and K-1.
