Business & farm

Putting money into a trust is generally not a taxable event.

 

If the trust is a grantor trust and earned income, that income can be reported on your individual income tax return (as grantor trusts are disregarded entities for federal income tax purposes).

 

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018

View solution in original post