michele
Level 7

New client with trust. Trust not really generating income. Only is about 5000 year for rent. The problem is the rent is not of going rate or value for the property. The trust states that the girlfriend may live there until which sometime that she passes away or marries. she is paying nominal to pay part of the property taxes and insurance. The previous accountant did not depreciate the property. I don't know if it should be. I haven't looked up any information on these kind of situations.  Just reaching out to see if anyone had this kind of situation. 

thanks

Michele

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