Grandparent has a trust set up for all 9 grandchildren. 5 of the grandchildren have unearned income greater than $800. Of the 5 grandchildren 3 have taxable income over $1600.
Grandfather does not want the parents to pay the taxes due, he wants to pay them. (The parents are not privy to all the details of the trusts). I am preparing individual taxes for the 5 grandchildren. Question is:
Can I use Grandparents income (higher than parents) on form 8615 or does it HAVE to be the parents?
I do have the parents information, but like i stated before, grandfather doesn't want parents too involved with these trusts.
As always, I am grateful and appreciate all your responses.
Grandfather does not want the parents to pay the taxes due, he wants to pay them. (The parents are not privy to all the details of the trusts). I am preparing individual taxes for the 5 grandchildren. Question is:
Can I use Grandparents income (higher than parents) on form 8615 or does it HAVE to be the parents?
I do have the parents information, but like i stated before, grandfather doesn't want parents too involved with these trusts.
As always, I am grateful and appreciate all your responses.
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