Exam Question 12 of 50 Select the best answer Which of the f

Exam Question 12 of 50 Select the best answer. Which of the following is not a final year deduction which may be distributed to beneficiaries on the final K-1 of a trust or estate? O A. Excess deductions on termination OB. Capital loss carryovers O C. Net operating loss carryover O D. Charitable contribution carryover submit Answars Exit & Resume Later

Solution

Ans. (D) Charitable contribution carryover

in the final Return that filed by an estate or trust (form 1041) certain items that can be reported on the schedule K-1 to the beneficiaries for inclusion on their tax returns specifically certain \"excess deduction \", capital loss carryovers\" and \" Net operating loss (NOL) carryovers\" are reported to the beneficiaries on the final schedule K-1 (form-1041).these final year deductions are reported in box 11 on the the schedule K-1 (form-1041).