topic Revocable Trust with S Bond and Cash less than 600 in Business & farm

Revocable Trust with S Bond and Cash less than 600

samkr — Mon, 23 Feb 2026 13:21:59 GMT

I have revocable trust for my child. Trust has cash less than 600 dollars and Savings Bond bought in the name of the trust for 10k. There is no interest income from Savings Bond or other income. Do I need to file Taxes for Trust Account? I use Turbo Tax Business

Re: Revocable Trust with S Bond and Cash less than 600

Anonymous_ — Sat, 04 Feb 2023 23:38:49 GMT

If it is a revocable trust, it is a disregarded entity for federal income tax purposes and, as such, it is the same as if the income were the child's income.

Re: Revocable Trust with S Bond and Cash less than 600

samkr — Sun, 05 Feb 2023 00:04:12 GMT

Thank you so much for the answer.. Is my understanding that when Income is more than 600 need to file taxes - until then there is no filing requirement, is correct?

Re: Revocable Trust with S Bond and Cash less than 600

Anonymous_ — Sun, 05 Feb 2023 01:30:38 GMT

Why $600? Are you referring to a 1041 (for an estate, there is a $600 exemption)?

Re: Revocable Trust with S Bond and Cash less than 600

samkr — Sun, 05 Feb 2023 02:14:14 GMT

idk - That is the input from my Attorney. When income in the trust is > 600 then file tax return for Trust and that should flow over K1 to the Grantor ( i am the Grantor for the trust). I may be totally off - can you please explain or point me to information around this?

Re: Revocable Trust with S Bond and Cash less than 600

Anonymous_ — Sun, 05 Feb 2023 05:37:07 GMT

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000285943

The trust is required to file a return (1041) if it has any taxable income or gross income of $600 or more.

Re: Revocable Trust with S Bond and Cash less than 600

samkr — Sun, 05 Feb 2023 16:35:50 GMT

Thank you so much