How to File a Trust Return
From TaxAlmanac
Please help to improve this summary page!
This page needs additional information and clean-up before it will really be of use to the TaxAlmanac community. We strongly encourage you to edit this article. Make any additions or changes you believe are valuable. Don't worry about making it perfect or complete as others will follow and add to your contributions. The most important thing is to get the ball rolling, so please do so!
If the type of trust is a grantor trust, it should have the "Grantor type trust" box checked on Form 1041, field A "Type of entity." Grantor trusts use Form 1041 as a transmittal form for the return, and all of the income, deductions, etc. are reported on each grantor's Form 1040. The fiduciary is required to supply each grantor with a summary (a.k.a. grantor letter) of his/her share of the income, deductions, etc. to enable him/her to complete Form 1040. The grantor letter serves as a substitute for Schedule K-1. See the topic Grantor Trusts for more information.
