Question
Income distribution from complex trust
I have 2 parts to income distribution from complex trust.
1) Income is from dividends, interest and rents. When I enter a distribution, it is increasing the trust income from rents to reflect a reduction in depreciation which is also allocated to the beneficiary on the K-1. Do I have to pass through depreciation expense or can I elect not to. if so how?
2) I f I cant do the above I need to make additional distribution. Where do I elect distribution under the 65 day rule?
