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Get your taxes done using TurboTax
@SaveMeSomeMoney wrote:How does one "choose" to report interest reported to a trust EIN on the descendant's personal 1040 using their SSN?
That would not be a choice you could make without creating a mismatch between the trust's EIN and your SSN.
One scenario would be to report the income on a 1041 indicating that the trust received the income as a nominee. However, that would more likely than not be improper, not to mention more trouble than it's worth.
The method that is least likely to cause any issues would simply be to report the income on a 1041 and pass it through to the beneficiary(ies) on the K-1(s).
‎February 27, 2023
7:58 AM