Estates & Trusts

When you own an estate or trust that generates income, it must be reported on Form 1041, United States Income Tax Return for Estates and Trusts. Nevertheless, if the trust and estate beneficiaries are entitled to receive the income, they must be the ones paying the income tax (rather than the trust or estate). Therefore, all income distributions must be reported at the end of the year.

If you are looking for trust and estate deductions, contact our expert team today. We will walk you through the entire process and ensure you meet all your financial goals!