Implements § 642Open in workspace
Reg. § 1.642(d)-1 Net operating loss deduction.
26 CFR § 1.642(d)-1eCFR, current through 2026-07-14
The net operating loss deduction allowed by section is available to estates and trusts generally, with the following exceptions and limitations:
(a) In computing gross income and deductions for the purposes of section , a trust shall exclude that portion of the income and deductions attributable to the grantor or another person under sections through (relating to grantors and others treated as substantial owners).
(b) An estate or trust shall not, for the purposes of section , avail itself of the deductions allowed by section (relating to charitable contributions deductions) and sections and (relating to deductions for distributions).