Living trusts (aka revocable living trusts or RLTs - grantor trusts) are disregarded for federal income tax purposes.
All of the income, gain, deductions, credits are treated as belonging to the owner(s) of the trust assets.
There are optional methods to report items of income, gain, etc., including filing a 1041 with a GIS (grantor information statement) or simply reporting on the owner(s) individual income tax return (1040); filing a 1041 and issuing a K-1 is not one of the acceptable methods for grantor trusts.
See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018
