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nh_624
April 24, 2024
Question

Do I need to file trust tax return if I rent my home

  • April 24, 2024
  • 1 reply
  • 0 views

Hello,


Do I need to file trust tax return for revocable living trust if I place the house for rent and receive rental income?  I am the trustee of my trust now.

Thanks

1 reply

PatriciaV
PatriciaV
Employee
April 24, 2024

No, If it's a living (grantor) trust, you can use whichever TurboTax personal program suits your tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on the grantor's personal tax return.

 

Rental activity is reported on Schedule E, which in TurboTax is found under Wages & Income >> Rental Properties and Royalties.

 

Additional Information:

 

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