@Anonymous_Thank you!"a nongrantor trust does not pass losses through to beneficiaries until termination and the trust files a final return." Right! I am just t...
To add more to this story, we never filed 1041 for this trust since it was created in mid December, 2017. there was realized capital loss of like $10K in TY2018...
@Carl, thank you for your great advise! I didn't know I can hold off reporting this $40K investment to improve the property since all the expenses were paid in ...
I have very similar situation as@xzll, except the lease ended 6/30/2019 with tenants moved out 3rd week of June. The property was left beat and gross so we plan...
