swongtax
Level 4

Thank you for your response! 

The Grantor trust that I have been handed with a statement and a Schedule E, specifically the Schedule E needs to go on the Grantor/Taxpayer's individual income  tax return.  This Grantor trust was created as one of the grantors passed away, so in doing this trust, the FMV of the rental was stepped up 100% (as I was told).  My question is the CPA omitted the Depreciation figure from the Schedule E, but on the statement to the Grantor, it does say to include the Depreciation number on the Grantor/taxpayer's return.  This point is confusing me.  I looked at the State Grantor trust tax return, and the state one does have the big depreciation number on the state schedule E.  I am confused as to why the CPA would leave out the Depreciation on the schedule E attached right behind the statement of the Grantor Trust.  Any ideas/advice?

 

Thank you!

 

SW

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