My father owns a residential rental property and this last year we placed into a living trust "Grantor Trust" Since I oversee and manage the property we have always split the profit and losses 50/50. This year I have been informed that an IRS form 1041 should be filed and we use our SSN rather than an EIN, but how should the form be filled out so that both me and my father are 50/50 as the operating statement reflects? Are there any other considerations that I should be aware of?
