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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33801
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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My husband set up a trust property and rented it out. The

Customer Question

Hi. My husband set up a trust for a property and rented it out. The money is deposited into a trust account at the local bank. Does this mean that I have to file 1065 for a common trust or do I need to file 1041 - a trust return?
Submitted: 9 months ago.
Category: Estate Law
Customer: replied 9 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 9 months ago.
Sorry, please send response to my email. Forget live call. Thank you.
Expert:  Barrister replied 9 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney whowill try my very best to help with your situation or get you to someone whocan. There may be a slight delay in myresponses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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If the trust is earning over $600 per year in income and retaining it, you have to file a 1041 under the trust's EIN number. A form 1065 is for Return of Partnership Income...not a trust.

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thanks

Barrister