The Grantor Trust Rules' Effect on Income Taxes

In computing taxable income, grantors and others treated as owners of any portion of a trust include those items attributable to any portion they are treated as owning. Portions not treated as owned by the grantor or anyone treated as the owner are taxed under general rules that apply to income taxation of trusts, with the tax burden on the fiduciary or the beneficiary. This EIA reviews the effect of the grantor rules on income taxes.
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In computing taxable income, grantors and others treated as owners of any portion of a trust include those items attributable to any portion they are treated as owning. Portions not treated as owned by the grantor or anyone treated as the owner are taxed under general rules that apply to income taxation of trusts, with the tax burden on the fiduciary or the beneficiary. This EIA reviews the effect of the grantor rules on income taxes.

Diane L. Mutolo, J.D., LL.M. is a member of the New York Bar, and her LL.M. is in Taxation. She is the update author for the LexisNexis Matthew Bender treatise, How to Save Time & Taxes Preparing Fiduciary Income Tax Returns.

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