Family trust owns home. 2023: new A/C & furnace & other repairs. Where to enter rental inc. & exp (insurance, real estate taxes, repairs) on 1041? Depreciate A/C?
Family trust owns home. 2023: new A/C & furnace & other repairs. Where to enter rental inc. & exp (insurance, real estate taxes, repairs) on 1041? Depreciate A/C?
Thank you. I thought Schedule E was to support 1040 only but then looked up 1041 instructions and saw that it is used there as well for rental income/deductions.
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