I understand any deductions must be other than occurring by normal owner of a property. However, owner is deceased and Trust liquidates asset through a sale. Can realtor commissions at closing and painting of interior to prepare property for highest and best price be considered in 15a on form 1041?
You'll need to sign in or create an account to connect with an expert.
Thanks. Makes sense. Since I am the Trustee, would you mind directing me to the form I need to use in this instance. Death in Oct 2021 and sale of home in June 2022. I do have the 1099-S for the Proceeds from Real Estate Transactions. Since this 1041 is the final trust document, want to make sure I know where the sale of the home and any deductions is reported.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
dav321
Level 1
LLLnew
Level 3
yuhsien32
New Member
meljj4
New Member
Jan911
Level 2