How do i file a Nominee Trust?

[michaelpferreira]

do I file a 1041 for a nominee trust? if so, IRS says not to use EINs for nominees, so do I use my ssn instead as trustee?

[Anonymous_]

Do you have a nominee trust or a grantor trust?

A nominee trust is typically established to hold title to real estate and is disregarded for federal income tax purposes (i.e., a separate return, such as a 1041, is not required).

[michaelpferreira]

It’s a Nominee Trust. It was used to hold a real estate property and was sold in 2019. So if no 1041 where would I report the gains?

[Anonymous_]

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@michaelpferreira wrote:

So if no 1041 where would I report the gains?

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On your individual income tax return (Form 1040).

[Bestarfit]

Removed

[Bestarfit]

Ok and if a sale occurs in the trust, who would report the gains on their 1040? The trustee or beneficiares? 

Thank you

[Anonymous_]

The beneficiaries.