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Do revocable Trusts Have to File a federal Income Tax Return?

Jerry Rogers's Profile

I have a revocable trust - no EIN associated with the trust - do I have to get an EIN?

Answers

Anonymous
(Chairman) |
Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

Talk to your CPA who will take responsibility and liability for their answer.

David Cole
Title: CPA, CVA, CRFAC, CGMA
Company: Haines, Isenbarger & Skiba LLC
(CPA, CVA, CRFAC, CGMA, Haines, Isenbarger & Skiba LLC) |

Depends. If it's a dry trust (no assets), then likely that an EIN isn't required. To be safe, dry or not, my advice is to get an EIN for the trust since it can be a separate taxpayer. As to filing a 1041, that depends on whether the trust has income above the filing level or not, which depends on whether there are assets held by the trust.

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