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1031 Exchange 1. MFJ taxpayers own a piece of rental
1031 Exchange1. MFJ taxpayers own a piece of rental property. 2. Rental property is recorded on their joint tax return but is titled to their individual Revocable Trust. 3. They did a 1031 exchange an… read more
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Hello, I am attempting to complete a tax return for a Revocable Living Trust for 2020. I received a Summary Tax Statement from the broker, including a 1099-B and 1099-DIV.There are two co-trustees: a … read more
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Hello, I am attempting to complete a tax return for a Revocable Living Trust for 2020. I received a Summary Tax Statement from the broker, including a 1099-B and 1099-DIV.There are two co-trustees: a … read more
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I have a Grantor Nominee revocable Trust of which I am the
I have a Grantor Nominee revocable Trust of which I am the Beneficiary, that I created to hold property (7 Lots) that I received at a Auction.I have one lot I'm selling to a friend. I paid $79K includ… read more
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Same person again with California revocable living trust
Same person again with California revocable living trust currently living in South Dakota. I am a US permanent resident but may revoke it and my husband is a US citizen For context, our total estate i… read more
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Remaining Grantor of Living Trust dies. I am applying for EIN for trust to file 1041 (electing 645 treatment, all on one form). On the EIN application should I apply for a Revocable Trust EIN (e.g., q… read more
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Same person who previously talked to you about transferring my share of home to husband.The trust document contains a will in which my husband said ' Property: I confirm to my wife her one-half intere… read more
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I dug out the deed for the SD house which is in the name
I dug out the deed for the SD house which is in the name of'my husband and me as 'co-trustees of the ' family revocable living trust'. The trust document itself does not mention our current house in S… read more
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Tax. What are the tax reporting implications of amending a
Tax. What are the tax reporting implications of amending a US revocable living trust so that my husband becomes the sole owner of our home? I am a US permanent resident married to a US citizen. The on… read more
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A revocable trust already has an EIN. Does this trust need
A revocable trust already has an EIN. Does this trust need another EIN to process a business requiring payroll wage and tax reporting?? … read more
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I am 61 years old, and my wife is 66 and are thinking about
I am 61 years old, and my wife is 66 and are thinking about protecting what little assets we have, and I would like to set up a trust for purposes of protecting my assets, and for investment purposes.… read more
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My wife and I are US citizens. We have a simple revocable
My wife and I are US citizens. We have a simple revocable living trust. (We are both Trustee with equal share) The trust has a few residential real estate in California USA, rented out as income prope… read more
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We are getting ready to file taxes however trying to figure
We are getting ready to file taxes however trying to figure out if we can file two separate taxes, I get a w-2 from my everyday work at a bar but I also am a trustee I have a EIN number for the Trust … read more
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My wife and I opened a revocable living trust (we both are
My wife and I opened a revocable living trust (we both are trustees), and are gradually moving assets into it. For non-retirement brokerage accounts, is there any reason to keep those outside of the r… read more
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if I have a joint brokerage account with another person and
if I have a joint brokerage account with another person and this person is primary on this account (he receives 1099 forms etc), if the person dies would his wife be entitled to any of this funds or i… read more
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Both parents are now gone, I am the successor trustee. All bills are paid, no property, only an investment sum with Thrivent. They are telling me that the trust now needs to have a new tax ID to be le… read more
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