About One4uTwo4me

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Re: NOL carry forward not showing on CA 541 return

I have a very similar situation preparing yearly tax returns for a Complex Trust with a very large grandfathered in NOL loss that is not subject to the 80% rule...

One4uTwo4me

Updated Feb 28, 2025
Solved Re: Form 1041 -Small Capital Loss originating from Parent/Grantor Fi...

Thank you for pointing me in the right direction. With your help I was able to determine that the $427 capital loss carryover is indeed legit and it will be use...

One4uTwo4me

Updated Sep 06, 2023
Solved Re: Form 1041 -Small Capital Loss originating from Parent/Grantor Fi...

My "exempt" trust was created in 2020, the year of death of my surviving parent. It is exempt for purposes of generation skipping taxes. It is also considered a...

One4uTwo4me

2

Updated Sep 06, 2023
Solved Re: Form 1041 -Small Capital Loss originating from Parent/Grantor Fi...

Correct. The 2022-1041 that I am preparing is my trust as the beneficiary to my parent's trust. My trust is like a sub-trust to the original Grantor Trust.

One4uTwo4me

Updated Sep 06, 2023
Solved Re: Form 1041 -Small Capital Loss originating from Parent/Grantor Fi...

Maybe I am not using the term "Grantor" correctly. Are you considering my trust 1041 as a "Grantor Trust"? Because I use this term to refer to my parent's trust...

One4uTwo4me

4

Updated Sep 06, 2023

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Date Registered	‎February 22, 2021 5:24 PM
Date Last Visited	‎February 28, 2025 3:23 PM
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