Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 18, 2025 4:27:43 PM

Is rental property "disposed of" if it is moved into a trust that is owned by the property owner?

The property owner was living at the time the property was moved into his trust.

0 1 663
1 Replies
Expert Alumni
Feb 20, 2025 8:39:35 AM

If the property will now be reported on a Form 1041 trust tax return, you will need to report that it was disposed in a method other than a sale.

 

However, if this was only a change in the property title and the trust activity is reported on the individual's tax return, no disposal is reported.