Schedule K-1 (Form 1041), box 11, Final Year Deductions, accounts are reported for the beneficiaries' share of: a. Excess deductions allowed on the estate's return when the estate or trust is terminated. b. The estate tax deduction based on the estate tax paid and deducted by the estate or trust. c. Depreciation, depletion, and amortization deductions that are directly apportioned to each trade or businss, rental real estate, or other rental activity. d. A credit or credit recapture.