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ramsanmartin
New Member

The real property was still in Revocable Trust. I just received money for managing Trust and Property. How do I claim that? It's not rental income

My nephew and I are the beneficiaries of the trust equally since my brother died. I didn't want to sell the property at first so was just managing it from across the country. Where/how do I include the management fees I was receiving? I received NO rents as all those were deposited directly into the trust accounts where expenses and repairs were paid from.
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tagteam
Level 15

The real property was still in Revocable Trust. I just received money for managing Trust and Property. How do I claim that? It's not rental income

"I just received money for managing Trust and Property."

That would be miscellaneous income not subject to self-employment tax. 

Follow the steps in the screenshots below to report the income in TurboTax.

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1 Reply
tagteam
Level 15

The real property was still in Revocable Trust. I just received money for managing Trust and Property. How do I claim that? It's not rental income

"I just received money for managing Trust and Property."

That would be miscellaneous income not subject to self-employment tax. 

Follow the steps in the screenshots below to report the income in TurboTax.

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