Question: How is different income taxed in non-grantor trusts? For example, are capital gains taxed as income or at capital gains rates? Interest? Dividends? What is taxed and then considered [...]

Question: Can Trust Be a “Grantor” Trust After Grantor’s Death? I am the sole successor trustee and sole beneficiary of my mother’s Massachusetts grantor trust. She passed [...]

Question: I sold my house in December 2020. It was the only thing in my irrevocable grantor trust. Do I have to file a 1041 for 2020? Response: Technically, yes. Practically, perhaps not. Either [...]

Question: My father-in-law set up an irrevocable trust which contains about $250,000 held in a non-IRA investment account. When he died in 2020, the funds were transferred to a bank account [...]