Comment on Bonnie Kraham: Here's the scoop on income tax returns and MAPTs

Bonnie Kraham: Here's the scoop on income tax returns and MAPTs

When you create the Medicaid Asset Protection Trust (MAPT), you may or may not have to file an income tax return for the trust. If assets in the trust produce gross income of $600 or more in a year, then the MAPT must file an income tax return. If assets in the trust produce no income or produce gross income of less than $600 in a year, then the MAPT does not have to file an income tax return.

 

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