My MIL has a revocable living trust that she set up. She is the only trustee. 2018 the trust sold property. Which Turbo Tax should be used for trust and personal use?

kcrheinlander · ‎June 1, 2019

Does she need to use Turbo Tax business for the trust and then personal for her individual taxes? ( She receives no "personal" income from the trust. ) All money received goes into the trust checking account. But she does receive SS personally.

tagteam · ‎June 1, 2019

"Does she need to use Turbo Tax business for the trust and then personal for her individual taxes?"

Your description indicates that the trust is a grantor trust which is generally disregarded for federal income tax purposes.

As a result, she can report via one of the optional methods (link below) that do not require filing a Form 1041.

https://www.irs.gov/instructions/i1041#idm139674712735312

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My MIL has a revocable living trust that she set up. She is the only trustee. 2018 the trust sold property. Which Turbo Tax should be used for trust and personal use?

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