Working on my first Trust tax return. It has two beneficiaries( Co-Trustees), I assume I am creating two K-1's, which I have done. I can not seem to find the area to put in the 50/50 percentage. In the trust there will be some interest income, dividend income and a home. Where do I enter the Home that was left to the estate.
Thank you
Home has not sold. DOD was 2023 and it is just now being listed. I thought I would put the home in as an asset for expense purposes????
I "think" you can still deduct the real estate taxes being paid on the house before it sells (on the front page of the 1041 in that smart worksheet where you can deduct the accounting/atty fees)
I "think" everything else gets added to basis for when its sold.
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