I am a beneficiary and trustee of a pass-through irrevocable trust, the sole income of which is rent from a land lease.
Through the years, I have reported the income in Part I (Rental Real Estate) of Schedule E with no problem; but wonder if it would be more appropriate to report it in Part III (Income From..Trusts)
Or does it not really matter so long as the income finds its way to line 17 of Form 1040?
What say you?
Thanks
Bill