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Updated over 7 years ago, 08/08/2017
Trust beneficiaries taking dividends from rental property
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