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Get your taxes done using TurboTax
Thank you so very much! The estate attorney I have doesn't do taxes which is why I was asking here. Since the rent being charged is less than the current mortgage/heloc payments (10 year term) in anticipation of the current renter purchasing the house (30 year term) the estate is operating at a loss and therefore there is no income to distribute. I expect to hire someone next year to hopefully close out the estate and expect the total value of the estate to be less than 100k so it's not a large amount. It seems pretty straight forward for this year.
Again thank you for the direction and comments! They have been EXTREMELY helpful!
‎February 26, 2019
7:29 AM