Discussion:Land trust taxes

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Discussion Forum Index --> Advanced Tax Questions --> Land trust taxes
Discussion Forum Index --> Tax Questions --> Land trust taxes

Spencerhos (talk|edits) said:

14 November 2008
My client owns 15 properties that are in individual land trusts.Before I go crazy. Should I be filing a trust return for each property ?

Riley2 (talk|edits) said:

14 November 2008
Depends. See RR 92-105.

Spencerhos (talk|edits) said:

14 November 2008
Thanks I will check

Taxtips (talk|edits) said:

16 November 2008
Most land trusts are not treated as trusts for tax purposes. Instead, the beneficiary is treated as the owner of the undlerlying real estate.

Spencerhos (talk|edits) said:

17 November 2008
Thank you. I am new to this site so I am slow.

I have been researching and agree that it appears that this is not a true trust . The trust only holds title, has no ability to transfer the title or perform other dutoies unless so instructed by the benficiary.

Thanks to all for your help

Dingodile (talk|edits) said:

17 November 2008
I'd love to know which "guru du jour" sold your client on this structure. It most likely cost a lot and yields very little value.

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