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Get your taxes done using TurboTax
If the trust is the sole owner of the LLC, all the trust activity is reported on the grantor's tax return. That includes rental income and expenses. From the IRS' perspective, the grantor trust doesn't exist, so all the activity goes to the grantor.
Additional Information:
- Where do I enter income and expenses from a rental property?
- What kinds of rental property expenses can I deduct?
- How do I handle capital improvements and depreciation for my rental?
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March 26, 2024
1:50 PM