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Get your taxes done using TurboTax
If this is a grantor trust, your issue is solved because you are considered to be the owner of the assets and, as a result, pay any tax due on the income the trust earns.
If otherwise, you file a 1041 with an associated K-1 and pass the gain through on the K-1 (if you have the authority to distribute capital gains).
Do you know what type of trust you have?
‎February 22, 2025
11:19 AM