Using income property in a grantor trust as an example:
- Only entity info goes on the 1041 - no dollar info here.
- Grantor Information Sheet, filed with 1041, should include dollar details in same detail as would be on a Schedule E. Is this right? That's a lot of information.
- Rather than the trust issuing a K-1 to grantor, grantor's own 1040 includes all of the same detail stated again, this time in an actual Schedule E. Is this right?
- In grantor's own 1040, how is schedule E identified as coming from the trust, and should it be segregated from schedule E info for other properties that are not in the grantor trust?
