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Do I need separate tax ID numbers for a trust and estate?

September 13, 2006

Date:  Sun, 09 Apr 2006
From:  Alicia

Do we need two separate tax identification numbers – one for the trust and another for the estate?

Answer

Date:  Fri, 05 May 2006

Hello Alicia,

Generally, a trust and an estate are required to have separate tax identification numbers.

There is an election to have a trust included on the income tax return with an estate, which would initially require only one identification number.

I recommend that you retain a tax consultant familiar with these rules to help you with income tax reporting for the trust and estate. (We provide this service.)

Good luck!

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