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Accurate Taxes
Level 2
September 29, 2026
Question

Selling Rental Intangables

  • September 29, 2026
  • 2 replies
  • 24 views

When doing a sale of a rental and there is still intangables (Points & Fees) left to take, how do you  do to get the rest of it? The rental is in a trust.

2 replies

Terry53029Intuit Community Champion
Intuit Community Champion
September 30, 2026

is it a grantor or Irrevocable Trust. If a grantor trust just ignore trust, and take the amount on your clients 1040 (when you sell a property with left over points, and fees you take them at time of sale) If trust is irrevocable you put it on the 1041

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    September 30, 2026

    the program wont do it automatically (I dont know why), you have to input the leftover amount, I usually type it in as Other Expenses.

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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