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Level 2

Form 1041 estate

The home is a 2 family home. During the estate the rental unit was rented but the unit that was owner occupied remain vacant.


Turbo tax asked two questions.


1. rental assets to depreciate and it lists examples like a building owned by the estate. Do I need to depreciate the home? Even when my mom was alive we never did this. Just reported income and deducted applicable expenses since It was an owner occupied two family. During estate we continued to collect rent on one unit and I’ve appropriately deducted 50% of applicable expenses like taxes, utilities etc.


2. it asks about # of rental property usage days. I simply calculated # of days from when mom

died until we sold the home.

but then it asks about personal use?? Do I put the same # of days since it was an owner occupied unit even though it was vacant due to death or or do I keep it at zero?


as simple as it all is, it is also very confusing. 🤣

3 Replies
Level 15

Form 1041 estate

It is just this simple ... the rental property is treated as 2 separate entities.  The rental part is depreciated like it always has been  and the empty unit is simply a non depreciated asset of the estate just like any living person's home.   The rental portion only is entered on the Sch E and that portion of the building was only a rental and had NO personal use days ... and dividing the common expenses between the 2 units is correct.   If this is your first return to file for the estate it may be wise to seek local professional assistance or upgrade to one of the LIVE options.

Level 2

Form 1041 estate

Can you tell me what the “LIVE” option offers?


this is really a simple estate - I am the daughter- inherited all and just distributed a specific dollar amount to my son (my moms grandson) as per will. 

i am curious what the live feature does before I pay the money.

do they prepare the taxes?

Level 15

Form 1041 estate

The LIVE extra help feature is only available for personal 1040 returns done online.  Not the Desktop CD/Download programs including the Business program for Estates & Trusts.


What is LIVE



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