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Message 937: Re: Passive Loss Carryovers from Terminated Estates/Trusts




Estate Planning Forum: Message 937


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   Posted by Mary Kay Foss on 12/17/03

Subject:   Re: Passive Loss Carryovers from Terminated Estates/Trusts


Message Posted

In Reply to: Passive Loss Carryovers from Terminated Estates/Trusts posted by Marc Lauter on 12/16/03:

I think you're stuck. When the original owner of the passive activity died there was a chance to do a Section 754 election within the partnership (although fewer and fewer partnerships are agreeing to them). Passive losses incurred during administration of the trust or estate don't qualify for the election. Only the outside basis in the partnership is effected.



  

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