You might want to read through the article at the link below.
One relevant quote is, "depreciation is allocated based on the ratio of the distribution compared with the trust's or estate's trust accounting income". In short, depreciation typically follows income (i.e., if all of the rental income is allocated to the beneficiary, then all of the depreciation deduction is allocated to the beneficiary as well).
https://www.thetaxadviser.com/issues/2015/sep/reporting-depreciation-when-trusts-own-business-entiti...
