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December 1, 2023
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I have a simple Living Trust. Do I need to file a separate tax retunr for the Trust?

  • December 1, 2023
  • 1 reply
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I am the Trustee as well.
Best answer by Anonymous_

Grantor trusts (aka revocable living trusts) are generally disregarded entities for federal income tax purposes.

 

You can treat the trust as if it does not exist and report the income and any deductible expenses on your individual income tax return (1040). 

 

For a reporting overview see:

 

https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018

1 reply

Employee
December 1, 2023

Grantor trusts (aka revocable living trusts) are generally disregarded entities for federal income tax purposes.

 

You can treat the trust as if it does not exist and report the income and any deductible expenses on your individual income tax return (1040). 

 

For a reporting overview see:

 

https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018

December 2, 2023

Tagteam, thank you very much for your answer and guidance direction.