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New Member
posted Apr 21, 2020 7:18:20 PM

How do i file a Nominee Trust?

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?

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6 Replies
Level 15
Apr 21, 2020 7:40:02 PM

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).

New Member
Apr 21, 2020 7:49:36 PM

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?

Level 15
Apr 21, 2020 9:38:53 PM


@michaelpferreira wrote:

So if no 1041 where would I report the gains?


On your individual income tax return (Form 1040).

Returning Member
Apr 22, 2020 3:57:27 AM

Removed

Returning Member
Apr 22, 2020 4:13:00 AM

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

 

Thank you

Level 15
Apr 22, 2020 7:08:53 AM

The beneficiaries.