Deductions & credits


@ZengFreeman wrote:

.......Is grantor the same as trustee


You need to make a determination as to whether or not you are the grantor of the trust based upon the factors set forth in the Internal Revenue Code (read my previous post).

 

Whether you are treated as a grantor of the trust is dependent upon the criteria outlined. In a nutshell, if you are the owner of the assets in the trust or have certain powers over those assets, then you are treated as the grantor of the trust for federal income tax purposes (i.e., the trust is treated as a disregarded entity).

 

Note that a grantor can also be the trustee (or a trustee), but does not necessarily have to be a trustee.