Reporting an Excepted Trust
Report an excepted trust as follows:
Description: Identify the trust interest, using initials or a general description (e.g., “J.S. 2003 Trust” or “family trust #1”), and indicate the general nature of its holdings to the extent known. In addition, write “excepted trust.”
EIF: Select “No.”
Income Amount: Select the category that corresponds to the amount of your income during the reporting period.
Do not report transactions involving excepted trusts.