My husband and I created a family trust in 2018 and placed many of our assets in the Trust. Is there something that we should do different in completing our taxes?
For instance, we received a 1099-INT in the name of the trust for some of our accounts. Do we just report that interest income as our own since my husband and I are the trust managers?
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1 Best answer
Anonymous_
Level 15
Jun 4, 2019 6:40:19 PM
"Do we just report that interest income as our own since my husband and I are the trust managers?"
Yes, provided the accounts have your and/or your husband's social security numbers rather than the trust's EIN.