The general tax rule is that trusts compute their income and deductions as if they were individuals.1 Probably the most significant exception to this rule is the charitable deduction: The rules are so different for trusts that it may be easier to forget everything you know about individual income tax rules and start over.2 Grantors of grantor trusts deduct the contributions made by the trust as if the grantor had made them personally.3 If a trust is only partially a grantor trust, then the ...

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