Beneficiary lives in house owned by trust.

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  • appelman
    Senior Member
    • Jan 2010
    • 1195

    #1

    Beneficiary lives in house owned by trust.

    A trust owns income-producing investments and a non-income-producing house lived in by the income beneficiary. Which, if any, of the current expenses of the house should be allocated to the trust, rather than to the beneficiary? Maintenance? Utilities? Insurance? Real estate taxes? Capital expenditures? Other?
    Evan Appelman, EA
  • appelman
    Senior Member
    • Jan 2010
    • 1195

    #2
    I guess what I'm really asking...

    ...is whether any expense is DEDUCTIBLE by the trust.
    Evan Appelman, EA

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    • Burke
      Senior Member
      • Jan 2008
      • 7068

      #3
      No, not as an expense.

      Comment

      • appelman
        Senior Member
        • Jan 2010
        • 1195

        #4
        See follow-up post.

        Please consider my clarification and comment/query in the revisited post.
        Evan Appelman, EA

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