Can Homeowners Insurance be deducted on a Trust 1041?

Probably not unless it was rented. I would guess the same rules apply to a Trust as an individual owning a home and the homeowners insurance can’t be deducted unless it’s rented out.

posted

You are correct; it's tough to get around the Section 67(e) Regulations.

I do know some who have relied on Section 212 (to maintain and conserve trust/estate property) but I believe it's dicey in light of the Section 67(e) Regulations and has been abrogated by the former.