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New Member
posted Jun 3, 2019 11:18:33 AM

Using Turbo Tax Business for an irrevocable trust. Under deductions it says I can deduct state and local property taxes. Is that correct for trusts or just businesses?

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Level 15
Jun 3, 2019 11:18:34 AM

"Is that correct for trusts or just businesses?"

It is correct for trusts as well but see the link below for limitations.

https://www.irs.gov/instructions/i1041#idm140630131393744

1 Replies
Level 15
Jun 3, 2019 11:18:34 AM

"Is that correct for trusts or just businesses?"

It is correct for trusts as well but see the link below for limitations.

https://www.irs.gov/instructions/i1041#idm140630131393744