Trust beneficiaries taking dividends from rental property

[Kim Livingstone]

I am looking for a little insight on this situation. We have a rental property that is in a land trust. Can beneficiaries take dividends from the rent? if not dividends, what are the beneficiaries options for taking money from the income which is the rent? How is it categorized on your taxes? And how does it affect your taxes at the end of the year? Any advice would be greatly appreciated, Kim

[Lance Lvovsky]

@Kim Livingstone What does the Trust Agreement say? Are you the grantor (donor) of the trust? This is a situation where you need a CPA who can help you interpret the Trust agreement. The Trust may say that income is to be distributed annually in which case the Trust would distribute the trust accounting income to the beneficiaries.