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Which of the following does not accurately describe grantor…

Which of the following does...
Which of the following does not accurately describe grantor trust's?Grantor trusts treated as if the property is 100% owned by the grantor are treated similarly to single member LLC disregarded entities for income tax purposes.
The items of income and deduction allowable to the grantor under these rules are reported as if earned/paid directly by the grantor on their form 1040.
To be treated as a grantor trust, the person taxed as the grantor must have the right to withdraw assets from the trust.
Even though assets are treated as owned by the grantor for income tax purposes, they may not be treated as part of the grantor's estate.
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Answered in 1 hour by:
3/25/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,689
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Even though assets are treated as owned by the grantor for income tax purposes, they may not be treated as part of the grantor's estate

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Customer reply replied 27 days ago
Lev, I don't think that is the right answer.

Indeed - assets is the grantor trust are INCLUDED into grantor's estate

and because of that are getting stepped up basis.

Therefore - that statement not accurately describe grantor trust's

Lev
Lev, Tax Advisor
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