Section 199A HELP!!! - Spidell

Section 199A HELP!!!

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Message Board Section 199A HELP!!!

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 2 months, 2 weeks ago.

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  • #170648
    1. I have a trust that owns 5 rentals. Property manager is the trust executor who is also a RE professional. I was planning on using the Section 162 rules for her after taking the 199A webinar. The other 2 beneficiaries of the trust are childrens trust <21 yrs old who do not do work for the properties but rely on the property manager. I want to use the safe harbor for them. Can I make separate elections for the trust executor and the minor kids trusts or do i have the make it at the rental property trust level? Do the childrens trust and the childrens individual return both get the 199A deduction?
  • #170707
    Lynn Freer

    The determination is made at the trust level so the beneficiaries don’t need to qualify on their own.