A trust itself doesn't directly help someone write off mortgage interest and property taxes. Instead, it's the way the trust is structured and how it's used that can potentially benefit in these areas:
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Ownership Structure: When you transfer your home into a Revocable Living Trust, the trust becomes the legal owner of the property. However, the grantor typically retains control and the right to use the property. This transfer of ownership doesn't affect the grantor's ability to claim deductions for mortgage interest and property taxes on their personal tax return.
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Income Flow-Through: Estate Guru Trusts are what is known as "grantor trusts," which means that for tax purposes, the income and deductions related to the trust flow through to the grantor's personal tax return. This includes any deductions for mortgage interest and property taxes paid by the trust.
Both of these are possible because the Grantor’s SSN is the tax ID for the Trust.