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Get your taxes done using TurboTax
@yulman1657 wrote:
A grantor trust is considered a disregarded entity for income tax purposes. Therefore, any taxable income or deduction earned by the trust will be taxed on the grantor's tax return.
Correct, but make sure your brokerage firm uses your social security number on the account and not the EIN (TIN) of the trust (if you applied for, and have been assigned, one).
‎December 19, 2020
9:50 AM
914 Views