MinhT1
Employee Tax Expert

Business & farm

Any income generated by a revocable trust is taxable to the trust's creator (who is often also referred to as a settlor, trustor, or grantor) during the trust creator's lifetime.

 

If you are the grantor, you include this interest income in your personal tax return.

 

As to the version of TurboTax that you need, it may depend on the other types of income and deductions that you have.

 

Please read this comparison between different versions of TurboTax online, or

 

this comparison between different versions of TurboTax Desktop.

 

 

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