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