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Updated about 8 years ago,
Trust, Do I split accounting for year of death ? EIN & Grantor ?
I'm trustee of family rental property, Grantor passed away this year and I'm wondering if I split the accounting as of 1/1/16 to date of death, and then from date of death to 12/31.
How does this work for property taxes,and insurance if they were paid in full prior to date of death ? Do I do the same for operating expenses, and income from rents.. when paid is paid and when received is received..
Do I prepare a profit loss statement for each part ?? or what?
I have a call into my accountant but would like some heads up if possible.