Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? Read on to learn more.
Latest posts by Caprice Collins (see all)
- Can the Beneficiary of My Life Insurance Policy Be a Trust? - May 30, 2023
- Are Your Digital Assets Included in Your Estate Plan? - May 27, 2023
- What Is a QTIP Trust? - May 25, 2023