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Level 1
April 14, 2023
Question

1041 question

  • April 14, 2023
  • 1 reply
  • 4 views

a disabled adult child is the beneficiary of a simple trust.  They live in a condo owned by the trust. Can the trust deduct the HOA fees and insurance and if so where in the program (1041)

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1 reply

sjrcpa
Level 15
April 14, 2023

Those are nondeductible expenses on the tax return.

They may reduce Accounting Income.

The more I know the more I don’t know.