Discussion:Land trust taxes
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(Difference between revisions)
| Revision as of 13:58, 17 November 2008 Spencerhos (Talk | contribs) (Thank you. I am) ← Previous diff |
Current revision Dingodile (Talk | contribs) (I'd love to know) |
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Current revision
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 ? | |
Spencerhos (talk|edits) said: | 14 November 2008 |
| Thanks I will check | |
| 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 | |
| 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. | |
