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Subject:  NOL on estate income Date:  8/14/2010  3:29 PM
Author:  slojo Number:  110891 of 128043

I'm doing the taxes (fiscal yr 09/10) on an estate in its first year. The decedent died in July 2009, so I'm filing From July 09 through June 10. There is a rental house in the estate which I'm using 1040SE for as in the 1041 instructions. With all the expenses due to repairs, etc, plus other expenses of the estate, the taxable income is a negative number (almost $3000 in the red). The estate hasn't closed, and we should be closing everything next month. There may be some income in August that will probably be less than the loss. Do I need to file any form with the 1041 for 09/10 or do I wait and file the NOL in 10/11? And what form do I use to do that?
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