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posted Jun 1, 2019 10:31:31 AM

Who is eligible to write off any expenses for an irrevocable trust that has not earned any income for the year

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Level 15
Jun 1, 2019 10:31:31 AM

"Who is eligible to write off any expenses for an irrevocable trust that has not earned any income for the year"

 

No one, not the trust and not any beneficiary in the case of a non-grantor trust. 

 

If this is the trust's final year, the trust would pass through net losses to the beneficiaries.

 
 

1 Replies
Level 15
Jun 1, 2019 10:31:31 AM

"Who is eligible to write off any expenses for an irrevocable trust that has not earned any income for the year"

 

No one, not the trust and not any beneficiary in the case of a non-grantor trust. 

 

If this is the trust's final year, the trust would pass through net losses to the beneficiaries.