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Get your taxes done using TurboTax
@Anonymous_ ok so the only major item would then be the removal of the oil tank since that cot several thousand and needed to be done to sell the home.
Do I deduct utilities and property taxes? I assume those are deductible since the executor paid them out of pocket. But the executor is also the beneficiary so to me this almost is a wash.
From what I can tell this 1041 is serving to report the small rental income and expenses and the sale of the home along with the carryover loss. (as well as producing the K1's)
Seems straightforward then.
‎July 31, 2022
4:29 PM