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Level 2

Which Period End Dates should be used for a filer with a Living Trust using the Annualized Income Installment Method (Filer with the Living Trust is still alive)?

Schedule AI instructions note Estates and Trusts should use period ending dates of Feb 28, April 30, July 31 and November 30 for columns (a) through (d). 

If the Living Trust filer is still living, the trust is usually ignored and its income is reported on the individual's 1040.  Am I correct in thinking if the filer with the Living Trust is still living, this instruction should be ignored and the usual period end dates of March 31, May 31, August 31 and December 31 should be used for reporting income?  Similarly, the usual Annualization Amounts should be used, not the ones for Estates and Trusts ( 6, 3, 1.71429, and 1.09091)? Correct?

Thank you for your help....

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Level 18

Which Period End Dates should be used for a filer with a Living Trust using the Annualized Income Installment Method (Filer with the Living Trust is still alive)?

you are correct.  

1 Reply
Level 18

Which Period End Dates should be used for a filer with a Living Trust using the Annualized Income Installment Method (Filer with the Living Trust is still alive)?

you are correct.