Skip to main content
November 21, 2024
Question

I am the trustee on a Living Trust, 2 other beneficiaries. Can I claim money I spent on the house from my personal funds on my 1040 or somewhere else? The house is rented

  • November 21, 2024
  • 1 reply
  • 0 views
The property is a house in Arizona.

    1 reply

    November 21, 2024

    you are going to have to provide a lot more details. "Can I claim money I spent on the house from my personal funds on my 1040 or somewhere else?" we know nothing about the trust provisions, why you spent the money, what it was for, the connection between the house and the trust, etc. the relationship between you and the "other beneficiaries"  However, in general, personal expenses are not deductible except for taxes and mortgage interest.  

     

    this might be a situation where it would be best to confer with a tax pro that can go over all relevant information.