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I would show the loss considering FMV rent was paid and inform the trustee that there might be a rent receivable at the trust level and the "brother" should have his share of the trust distribution reduced by the shortfall, which will pay the expenses ...
HY, FWIW, with my historical understanding of the prohibition on contingent fees - which I have never charged - I would be completely comfortable with it in this case. (And I'm pretty much an ethics hard@$$.) You are essentially sharing the risk/return ...
Thank you in advance for your guidance: New client C-Corp Tax 2023, Gross Income Reported on 1120 à $ 73K from Tow Payer using Square Processing payment: Payar 1 (Various):==== è $ 85K-Form 1099 K Payar 2 (ABC Corp):== ...
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