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.
I am a prior owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C., retired from practicing law as of June 1, 2022. I still work part time for the firm as support and tax preparation Read More!
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