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1MINNESOTA STATUTES 2017501C.0808501C.0808 DIRECTED TRUSTS. Subdivision 1. Definitions. (a) The definitions in this section apply to this section. (b) “Directing party means any investment trust

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What is 0808 directed trusts?

0808 directed trusts are trusts that allow the grantor to retain certain powers over trust assets while still receiving certain tax benefits.

Who is required to file 0808 directed trusts?

The trustee of an 0808 directed trust is required to file Form 1041 and Schedule 8812 if the trust meets certain criteria.

How to fill out 0808 directed trusts?

To fill out a Form 1041 for an 0808 directed trust, the trustee must provide information on the trust assets, income, expenses, and beneficiaries.

What is the purpose of 0808 directed trusts?

The purpose of 0808 directed trusts is to allow grantors to maintain control over trust assets while still achieving certain tax advantages.

What information must be reported on 0808 directed trusts?

The trustee must report information on trust assets, income, expenses, distributions, and beneficiaries on Form 1041 for 0808 directed trusts.

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