No, it has existed for several years.
It was done by a CPA for my dad and I found out that his fee was equivalent to almost 2 months of his income for the year so I did it in 2022 with the help of that fellow I mentioned.
I don't know what a grantor trust is but dad's is a revokable trust. He is the trustee and I think I am once he passes :(
I looked at the returns the CPA had done and there were so so so many pages, charts, schedules that I think I did dad's wrong. I got scared and stopped.
I went back on Turbotax today to finish and it is looking like I am finished. I guess maybe it looks like that because I filed an extention? I don't know.
In a nutshell he has a paid off house and a savings account he put into the trust. Last year I was able to get him 4.62% on his savings and he made some interest income. On December 31st, I paid him from the trust all of the interest amount and filed his SR1040 with a K?
