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Get your taxes done using TurboTax
You probably need to consult with local legal counsel and/or a local tax professional.
However, the assets technically would belong to the trust in most instances and a return (1041) would be required to be filed if the trust had $600 or more of income or any taxable income.
See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000285943
‎December 23, 2023
12:55 PM