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Grantor Irrevocable Trust 1041 : Informational Form
I have a Grantor Irrevocable Trust. The trust has an EIN number. As I understand, any dividends/interest as reported from the grantor trust letter (1099) can be reported on the 1040 personal tax form. There were no beneficiary distributions - hence no schedule K-1 required. Should I still submit a 1041 indicating it is a grantor trust? Does Turbo Tax Business support the grantor trust - And does Turbo Business provide an "informational" statement linking grantor information back to personal 1040 form?
