USA Fiduciary taxes - depreciation passed to beneficiaries?

Joined
Dec 28, 2017
Messages
14
Reaction score
1
Country
United States
I'm trying to get Trust taxes done; filed IRS but still need to do states. I have tried both TurboTax and TaxAct and both want to move Schedule E depreciation to the beneficiaries K-1 for California so the total income is coming out much more than the distributions were. I looked over the last two years done by accountants with professional software and both have depreciation only in the Rental income so total income was inline with distributions.

Is there an exception I'm not finding that keeps it allocated to the trust instead of the beneficiaries? Thanks
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,629
Messages
27,578
Members
21,387
Latest member
BoltonPlumbing

Latest Threads

Top