Deductions for a C-Corp in a Non- Grantor Irrevocable Trust
Good Morning, There is a c-corp corporation listed in a non-grantor irrevocable trust in NYC. The corporation wants to lease property from the trust as well as another piece of property that is personally owned by a trustee. Since they are all separate tax entities, are these leases legal? Payments will be made and lease price will be at fair market value.
Quick Answer:
The determination of whether these leases are "legal" involves considerations of trust law, corporate governance, and contract law, particularly regarding fiduciary duties and potential conflicts of interest. These are legal questions that fall
Note: This answer is provided for convenience only. It is important that you speak to a CPA about your individual tax situation.
