Can I deduct taxes and repairs from a home I am listed in a family trust?

[DMarkM1]

Generally, whoever owns the property and paid the taxes will be able to list the taxes paid as an itemized deduction and if the itemized deductions exceed the standard deduction for that entity then the amount can be used.  As for the repairs, if the property is being used a rental then the owner/entity can use the repairs as a deduction from the rental income. 

Generally, if the Trust owns the property and is required to file a Trust return then the trust claims the deductions.  Other times the Trust beneficiary or Trust owner may get to claim deductions.  

Who get the deductions depends on the type of trust and the terms of the trust. There are too many variables to consider when answering your question in this forum.  The Trust administrator will be able to assist with what deductions are available to whom for your specific situation.

[tagteam]

Can I deduct taxes and repairs from a home I am listed in a family trust?

Repairs would not be deductible (by an individual, trust, or otherwise) unless the property was being used for business purposes or for the production of income (e.g., rental use).