Skip to main content
Level 2
April 22, 2020
Solved

TRUST IS USING GRANTOR'S SOCIAL SECURITY NUMBER FOR TAX ID, HOW DO I PUT THAT IN THE FIDUCIARY INFORMATION WORKSHEET

  • April 22, 2020
  • 8 replies
  • 60 views
No text available
This topic has been closed for replies.
Best answer by BobKamman

What part of 

Generally, if a trust is treated as owned by one grantor or other person, the trustee may choose Optional Method 1 or Optional Method 2 as the trust's method of reporting instead of filing Form 1041.

did you not understand?

8 replies

George4Tacks
Level 15
April 22, 2020

Just input on the Grantors 1040.

 

Answers are easy. Questions are hard!
Level 2
April 22, 2020

If I am understanding this correctly, we would file an informational 1041 with no income reported and no K-1 issued to the grantor, I would input the information directly onto the grantor's 1040 like any other investment income, etc.?

BobKamman
Level 15
April 22, 2020

Are they doing that because it's a grantor trust with all income reported on the beneficiary's 1040?  Then you don't need to file a Form 1041.  See Pages 13-14 of the Instructions.