Deprication on a rental property that is in a trust

[Matthew Hartzel]

Typed this up on my phone.. Title should read Depreciation*** I am a 42.5% beneficiary of a trust in which a rental property is currently being held. I would like to be able to write off the depreciation expense from my personal income. Is this possible?

[Lance Lvovsky]

Too many knowns to answer the question. If the Trust files a Form 1041 and is not a grantor trust, then the depreciation is at the trust level, and any taxable income will flow through to you on a K-1. If this is a grantor trust (ex: Revocable Living Trust), then all income/expenses are reported on the grantor's individual income tax return.