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How to determine if a trust is a grantor trust or a non-grantor trust

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC
How to determine if a trust is a grantor trust or a non-grantor trust

1.5 Credits

$15

Subject Area

Taxes

Webinar Qualifies For

1.5 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00781-21-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0724)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00781-21-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00781-21-O)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Grantor trusts and non-grantor trusts are the two main types of funded trusts that hold assets. The type of trust you’re administering determines whether you must file Form 1041 for the trust, or declare all items of income and deduction on the grantor’s Form 1040.

All trusts have a grantor, the person who creates the trust. All trusts also involve trustees, beneficiaries, and remaindermen. The relationship of the grantor to the other individuals involved in the trust determines whether a trust is a grantor trust or a non-grantor trust.

Non-grantor trusts are treated as separate entities (like a C-Corporation). But grantors of grantor trusts maintain significant rights to the trust’s assets and income. Because of that, they’re treated as if they are direct owners of the trust assets (like a sole proprietorship).

Various tax proposals, such as a change to the tax treatment of grantor trusts and a proposed surcharge to undistributed income of a non-grantor trust, may increase the importance of determining a trust’s income tax status in 2022 and beyond.  


Speaker Griffin Bridgers in this CPE/CE webinar will answer the following major questions:

  • What is a grantor trust, and how is the trust income of a grantor trust reported?
  • What are the income, gift, and estate tax benefits of a grantor trust?
  • What types of common trusts qualify for grantor trust treatment, and how can such treatment be avoided when desired?
  • What powers can a grantor retain over trust to achieve grantor trust treatment?
  • When might grantor trust status be achieved unintentionally?
  • In what cases might a beneficiary be treated as a grantor of a trust?
  • Is it possible to terminate the grantor trust status concerning the grantor or a beneficiary?

Learning Objectives

  • To analyze what types of trusts qualify for grantor trust status, whether by retained power or by operation of the trust.
  • To discuss how to cause the grantor, or a beneficiary, to be a deemed owner of trust assets without adverse transfer tax consequences.
  • To investigate how to terminate grantor trust status concerning a grantor, or beneficiary, along with possible transfer tax consequences of doing so. 

Who Should Attend?

  • Annual Filing Season Program
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Trust & Estate Tax Professional
  • Young CPA

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