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1041s w/ Foreign beneficiaries


ed_accountant

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Hi,

I am preparing a final 1041 with no taxable income and a capital loss carryover to pass through. The trust has 3 US resident beneficiaries and 17 foreign beneficiaries (No tax id #s). Each beneificiary has an equal 5%.

Any ideas on how to passthrough the loss to the US beneficiaries?

I believe I should issue the 5% loss interest to the 3 US beneficiaries and not issue any k-1s to the foreigners since they do not have tax ids. The amounts are also small.

Thanks

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