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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4093
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I need help about filing Income Taxes on a Special Needs

Customer Question

I need help about filing Income Taxes on a Special Needs Trust. A Special needs (pay back trust, d4a) Trust?
Submitted: 9 months ago.
Category: Tax
Expert:  PDtax replied 9 months ago.

Hi from just answer. I'm PDtax. What help do you need?

Customer: replied 9 months ago.
Do you need to file both a Personal tax return for the Beneficiary of the trust and a tax return for the Trust itself? If so would the estimated quarterly payments then go through the trust tax id or the personal (benefiaries tax id)?
Expert:  PDtax replied 9 months ago.

Both the trust (1041) and the beneficiary (1040) have to file separate returns. Each has their own assets and income/deductions.

The estimated tax payments made by the trust are for the trust unless specifically paid for the 1040 or state taxes. They are applied to the trust ID.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.