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Trust sale of property
My siblings and I are trustees of our family trust. The only assets in the trust are 3 adjacent lots. One of these lots has a building on it which we have been renting out for years. The other 2 are raw land. The Trust has filed taxes each year on the income for the lot with the rental. The other 2 are non income producing. We sold all 3 lots last year in one transaction. I'm trying to figure out how to report this. Do I need to report the sale of the rental problem separately from the other 2? And where /how do I report the sale of the other 2? I am using Turbotax Business, downloaded version (not on-line)
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March 27, 2022
11:59 AM