Should a 1099 be filed for a revocable trust?
July 16, 2021
Q. Should I issue a 1099 to a revocable trust? The vendor is a storage company.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
Yes, the individual who is grantor/owner of the revocable trust is considered to own the assets of the trust and is taxed on the income, so the grantor/owner furnishes Form W-9 and Form 1099 reportable…
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