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separating personal residence and business real estate taxes on 1041 for revocable trust
In 2021, my personal revocable trust paid real estate taxes of roughly $3,500 on rental farmland, $1,700 on vacant land and $6,000 on my home – i.e., more than $10,000. Presumably, the real estate taxes on the rental & vacant land are not subject to the $10,000 limitation on deductibility for such taxes. In working through Turbotax for completing the 1041 for the trust, I only see one place – “Your Deductions,” “Taxes” for listing those real estate taxes. Where in Turbotax do I separate out those taxes so that I’m not limited to the $10,000 limitation?
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August 21, 2022
3:04 PM