Trusts, fed tax Id & taxes

Posted in Creative Real Estate Discussions
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  • David Lunsford
    January 20, 2011 at 4:24 pm
    David Lunsford

    When taking title in a trust won’t the trust have to get a federal tax ID, file a tax return and is the trust taxed at a higher rate?

    Rick Casselberry
    January 21, 2011 at 11:52 am
    Rick Casselberry

    only if you want it that way

    land trust is invisible for income tax purposes

    Anonymous
    January 31, 2011 at 10:23 am
    Anonymous

    David

    A land trust if for holding title and it does not need a tax id number nor file a return.. The beneficiaries WILL need a tax id number and file a return.

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