Grantor Irrevocable Trust 1041 : Informational Form

[Wiseman100]

I have a Grantor Irrevocable Trust.  The trust has an EIN number.  As I understand, any dividends/interest as reported from the grantor trust letter (1099) can be reported on the 1040 personal tax form.  There were no beneficiary distributions - hence no schedule K-1 required.    Should I still submit a 1041 indicating it is a grantor trust?  Does Turbo Tax Business support the grantor trust - And does Turbo Business provide an "informational" statement linking grantor information back to personal 1040 form?

[M-MTax · Accepted solution]

TurboTax Business supports grantor trusts and will generate a grantor information letter (GIS). 

However, certain grantor trusts can generally use one of the optional methods of filing:

See https://www.irs.gov/instructions/i1041#en_US_2024_publink1000286018

[Wiseman100]

Perfect - thank you!