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Financial Planning / Tax Strategies


Subject:  Re: Need tax consequences advice please Date:  1/28/2013  3:19 PM
Author:  csm1rr Number:  117569 of 124572

RE:What's the nature of this/these trust(s)? I ask because of the special emphasis you put on the word plus your desire to do your own taxes. If we're talking about a grantor trust that just retitles your assets it's disregarded for tax purposes, all 1099's are issued in your SSN, and all income is reported on your 1040.

If we're talking about a separate legal entity we're talking about a 1041 trust income tax return, and IMO that means we're talking about a professional preparer regardless of what the trust owns.

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