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How to Determine If a Trust Is a Grantor Trust or A Non-Grantor Trust

Dec 22, 2021 by: MY-CPE LLC MY-CPE LLC
Grantor trusts and non-grantor trusts are the two main types of funded trusts that hold assets. The type of trust you’re administering determines whether you must file Form 1041 for the trust, or declare all items of income and deductions on the grantor’s Form 1040.All trusts have a grantor, the person who creates the trust. All trusts also involve trustees, beneficiaries, and remainde…
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