> When one establishes a Revocable Trust to shield assets from
>> probate, what ramifications, if any, are there for tax
>> preparation? Does a tax return of any kind have to be filed
>> for the trust? Would I still file a 1040?
> The filing requirement for the 1041 are independent of the
> filing requirements for the 1040.
> Each stands on its own.
> Generally, the filing requirement depends on income.
> Remember to also check the state filing requirements for the
> individual and trust tax returns.
> Each state has its own rules.
This answer is incorrect for revocable trusts (Living Trust). Such a trust is an ignored entity for income tax.
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