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Investors & landlords
I am the only beneficiary who lives in Illinois where the trust was created. Where would I add the LTCL on the K-1-T for Illinois? Would it be considered a "subtraction from Federal income" on the IL return? There is only a loss showing on the final 1041 since the Trust absorbed the gain from the property sale in 2020.
March 1, 2021
3:57 PM