Level 11
05-28-2024
07:18 AM
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The trusts were established about 12 years ago. Yes, grantors trust; I have copy of trust document and confirmed with the attorney when the trust was created. The tax has always been reported and paid on grantors 1040.
I won't issue k1 in favor of the beneficiary but was told tax can be reported and paid at the trust level. Any truth to that?
If at first you don’t succeed…..find a workaround