https://ttlc.intuit.com/community/state-taxes/discussion/il-schedule-k-1-t/01/2000865#M88521 <P>I am filing the final 1041 for a trust created in Illinois.&nbsp; There are 3 equal beneficiaries and there were no distributions from the trust since there is a LTCL carryover 11 D on the K-1's.&nbsp; Only one of the beneficiaries is an IL resident.&nbsp; What information do I have to add to the Schedule K-1-T. Would the $amount on the K-1 be considered pass thru income(loss)?&nbsp;&nbsp;</P> Sat, 27 Feb 2021 23:29:52 GMT pattypuzzled 2021-02-27T23:29:52Z https://ttlc.intuit.com/community/state-taxes/discussion/il-schedule-k-1-t/01/2000865#M88521 <P>I am filing the final 1041 for a trust created in Illinois.&nbsp; There are 3 equal beneficiaries and there were no distributions from the trust since there is a LTCL carryover 11 D on the K-1's.&nbsp; Only one of the beneficiaries is an IL resident.&nbsp; What information do I have to add to the Schedule K-1-T. Would the $amount on the K-1 be considered pass thru income(loss)?&nbsp;&nbsp;</P> Sat, 27 Feb 2021 23:29:52 GMT https://ttlc.intuit.com/community/state-taxes/discussion/il-schedule-k-1-t/01/2000865#M88521 pattypuzzled 2021-02-27T23:29:52Z https://ttlc.intuit.com/community/state-taxes/discussion/re-il-schedule-k-1-t/01/2005078#M88834 <P>Yes.&nbsp; You would need to enter the loss as pass through loss.&nbsp; You would only need to fill out column b for the Illinois resident.&nbsp; I would probably enter the amount online 18 with the description&nbsp;"Long Term Carryover Loss" then enter the amounts as negative numbers.&nbsp; The beneficiaries can each&nbsp;deduct $3000 in capital losses each year until their share is used up.&nbsp;&nbsp;</P> Sun, 28 Feb 2021 21:10:56 GMT https://ttlc.intuit.com/community/state-taxes/discussion/re-il-schedule-k-1-t/01/2005078#M88834 SamS1 2021-02-28T21:10:56Z