M-MTax
Level 12

Deductions & credits


@JFW3 wrote:

.....I read this as saying, "the sale or exchange by the trust will be treated as if made by the taxpayer."...


Except with a grantor trust, the trust and the taxpayer (grantor) are one and the same; the trust is disregarded for federal income tax purposes.

 

A nongrantor trust is treated as a separate entity.