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Old 12-28-2017, 10:53 AM
 
25 posts, read 24,537 times
Reputation: 53

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So my question is pretty technical, And naturally this is my attempt at avoiding paying a tax attorney to answer.
So i own 2 properties in Milwaukee County. And i am able to deduct expenses related to the income property.
I currently own the properties in my own name.
If i were to put the properties into a Living or Blind trust. Will i be able to continue to deduct these expenses?
Or will the Trust be viewed as some type of profit vehicle?

Thank you
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Old 12-29-2017, 05:54 AM
 
Location: WI
3,961 posts, read 11,024,066 times
Reputation: 2503
I would only suggest that relying on forums for tax answers can be a bit risky to base your financial decisions on. Getting tips that others have used is fine, but if it were my $$ and my situation I would go straight to an expert. Especially with tax code changes coming; so I say go talk to an accountant.

Just my .02 and no i am not an accountant lol
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Old 01-04-2018, 06:22 PM
 
319 posts, read 665,147 times
Reputation: 400
Quote:
So my question is pretty technical, And naturally this is my attempt at avoiding paying a tax attorney to answer.
So i own 2 properties in Milwaukee County. And i am able to deduct expenses related to the income property.
YES
Quote:
I currently own the properties in my own name.
If i were to put the properties into a Living or Blind trust. Will i be able to continue to deduct these expenses?
No idea but why not look in to LLCs instead
Or will the Trust be viewed as some type of profit vehicle?

Thank you
Reply With Quote Quick reply to this message
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