jtax
Level 10

Investors & landlords


@leeleses wrote:

4. Need more info about the non-rental property. Is it actually rental property but just not ready for rental? Or is a beneficiary using it? Or is it held for investment only?

 

** A beneficiary is using it.


I would seek profession advice and read the trust text carefully to understand the beneficiaries rights and obligations (e.g. do they have to pay any of the expenses?). 

 

Here is a presentation make a law firm discussing  some of the issues.  You might find some info in there similar to your case that could inform your questions of your attorney/EA/CPA.

 

https://www.hklaw.com/files/tklaw/wp-content/uploads/2019/02/25125817/Buying-and-Owning-Homes-for-Tr...

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"