My client moved her rental property deed into an irrevocable trust beginning in 2022. I usually file her rental property using Schedule E, will that change for 2022? Will I need to file a trust return or continue using Schedule E?
Same answer as if she had deeded it into a ham sandwich. Without knowing what kind of irrevocable trust -- for example, "intentionally defective" -- no one can say.
Thank you! I will find out the type of irrevocable trust. The client hasn't set it up yet and is working with an attorney to determine the best type of trust to deed the rental property into. Thanks again.
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