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