- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
You're right, it looks like the loss was limited. The Trust had a capital loss of about $3800 from a home sale and about $1300 in income from investments. I have normally distributed all income to the beneficiaries and so far have declared on the return that all of the income was distributed. I paid out quite a bit of the principal as well this year. There is no limitation in the Trust that says all or none of the income has to be distributed. Would it make sense to declare the income distribution as lower, moving some of it to the principal, so that ultimately the income offsets the $3800 to bring the net loss under $3000? Then it seems the full loss could be passed onto the beneficiaries. Would this make sense?
Thank you.
‎February 13, 2023
5:12 AM