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I am trying to file my taxes for 2018 and i can't seem to figure out where to claim the income for my daughters trust. She also receives income from a retirement account and social security (due to the death of my husband and not disability) so her unearned income is over the threshold and needs to be reported on her own return (15k). Do I have the option to report her trust income as reported on her 1041 on my own personal return or do i have to report this on her? Additionally, if she's filing her own return do i have to add her income on my return since she is my dependent?
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If the child is required to file a tax return then ALL their income must be entered on their return and on their return only. So if the trust files it's own tax return and issues the child a K1 form then it must be included on the child's return.
The trust does file it's own return but I receive a Grantor Letter and not a K-1
So the trust does file it's own return ... however it still passes some of the income onto the named beneficiary ... so it goes on that person's return.
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