Revocable Trust

[mhoffman44]

I created a Revocable Trust this year and moved all my assets into the trust name. Do I do my taxes the same way that I always have since I’m the owner of the trust and it’s all the same properties, loans, assets, etc? Or, what do I need to know about filing differently now?

[Anonymous_]

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@mhoffman44 wrote:

....do my taxes the same way that I always have since I’m the owner of the trust....

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Yes, your taxes basically stay the same since the trust is treated as a disregarded entity for federal income tax purposes (you are treated as the owner of the trust assets).

There are several options for reporting.

See https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018