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Get your taxes done using TurboTax
@maslance wrote:
Where in Turbo Tax do i make the change to notate it is now an Irrevocable Trust on trust tax return and mothers return?
You do not notate the change on any income tax return.
Revocable trusts (aka living trusts) are grantor trusts and, as such, are considered disregarded entities for federal income tax purposes (although a Form 1041 can be filed if the trust has an EIN - but no K-1s are issued).
Irrevocable trusts can be grantor or nongrantor trusts. In the case of the latter, the trust needs an EIN (since it is a separate entity) and a Form 1041 is required to be filed if the trust has gross income of $600 or more or has any taxable income.
Revocable trusts typically become irrevocable upon the death/disability of the grantor or via an amendment to the trust document.