topic Final 1041 estate tax return in Get your taxes done using TurboTax

Final 1041 estate tax return

kigp — Wed, 11 Feb 2026 03:41:26 GMT

I am filing a final estate tax 1041. In 2022 the estate had a loss but it does not appear to be carrying forward to my final return. I used TurboTax Business for both returns and used the 2022 return to start the 2023. The software does not appear to be correctly carrying the loss forward.

Re: Final 1041 estate tax return

Anonymous_ — Sun, 22 Dec 2024 21:11:07 GMT

Re: Final 1041 estate tax return

kigp — Tue, 13 Feb 2024 02:32:00 GMT

Sorry for not giving sufficient information. The capital loss from investments is being carried forward properly. 3000 was utilized in 2022. There is a investment capital loss carry forward of 3337 from the 2022 filing and it is being carried forward. The estate had an operational loss of 9907 shown on line 23 of the initial year 1041 for 2022. Operational losses are not passed through to beneficiaries and must be carried forward until the final return is filed. I have this years return marked as final and the prior loss is not being accounted for. The loss is due to attorney fees and other operational costs.

Re: Final 1041 estate tax return

Anonymous_ — Tue, 17 Dec 2024 05:23:51 GMT

Re: Final 1041 estate tax return

kigp — Tue, 13 Feb 2024 13:41:58 GMT

Thank you for enlightening me tagteam,

From the numbers you can see this was a small estate. From your assessment, the estate itself is not a business so expenses related to managing it cannot be carried forward. I hope this helps others who may have a similar question!