Hello Community, I have recently started a living "shared" revocable trust, my partner and I (unmarried) are the sole trustors and trustees. We have one rental property under the trust. I have seen a recent post here when there is a single trustor/trustee of a living trust where the Community reply indicated the income in that situation i.e. single trustor/trustee living/revocable is entered via turbo tax on their individual return, I'm assuming Schedule E. My question is, does the same thing apply to both my partner and I? i.e. can we just split the income/expenses from the trust rental on our respective schedule E's or, as I have read elsewhere, do we instead have to fill out Form 1041 and send ourselves a 1099 MISC or K-1? or being more than one trustor/trustee are we stuck with reporting all the income on the 1041 and paying the ridiculous trust tax rates on that?. Again same situation as the taxpayer in the link below, except there are two of us. Thank you in advance...
here's the link mentioned above:
https://ttlc.intuit.com/community/taxes/discussion/reporting-rental-income-for-a-house-under-a-trust...
