Question just to get my head around it before starting the trust return.
Mother died and left all rental real estate in a living trust which is not irrv after her death.
3 Beneficiaries split the income from the rentals
Are expenses and deprecations taken out on the trusts 1041 return level?
Is just the "net rental income " passed down to the beneficiaries? Or are the beneficiary's share of expenses and depreciation reported down to their personal returns along with the gross income?
Thanks
