Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? Read on to learn more.
About Jennifer N. K. Venable
Jennifer Venable is the attorney and owner of the Law Firm of Jennifer N.K. Venable, licensed by the State Bar of California. The cornerstone of her practice is estate planning and administration including trust administration and probate.