Question 21 of 75. How are carryovers of losses generally treated in the final year of an estate? Capital losses are allocated to the estate only and are not passed through to the beneficiaries. Cartyovers not absorbed in the final year are lost. Net operating losses must be carried back two years on the final return. Passive activity losses pass through to the beneficiaries in the form of an increased basis in the underlying property interest. Question 23 of 75. Lindsey Poney created a nongrantor trust in 2018. During 2021, the trust earned $4,000 in ordinary dlvidends, $1,000 in interest income, and $2,000 in municipal interest. The only expenses were $1,000 in fiduciary fees. What portion of the fiduciary fees are deductible? None of the fiduciary fees are deductible. $571 is deductible. $714 is deductible. $1,000 is deductible. Mark for follow up