maglib
Level 11

Business & farm

Here I was always told it was a grantor trust.....  and never thought otherwise until now.....  helpd my mom prepare it annually and was told by the paid trustee that no k-1 was needed that the grantor tax letter was sufficient in her case. Amazing when audited, the IRS passed it without question.  I guess the fact that it says grantor tax letter made me comfortable enough.... WHOOPS!  My bad to just continue doing what was done in the past too and since audit passed, I never thought a thing.  I also have notes that an irrevocable trust can be treated as a grantor or non-grantor Trust,  never stop reading.
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I am NOT an expert and you should confirm with a tax expert.