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New Member
posted Feb 17, 2024 5:01:29 PM

I put my Condo into an Irrevocable Trust in 2023. Are there any IRS forms I need to complete due to that change?

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1 Replies
Level 15
Feb 17, 2024 5:22:44 PM

If the trust is a grantor trust, you can handle it in a few different ways if this is business property (i.e., you rent the condo to third parties).

 

See https://www.irs.gov/instructions/i1041#en_US_2023_publink1000286018

 

Otherwise, nothing needs to be filed with the IRS if the condo is strictly for personal use.