Yes, Form 8832 can be used to reclassify a revocable trust. The form is used by eligible entities to choose how they are classified for federal tax purposes 1. A revocable trust is considered an eligible entity and can elect to be classified as a corporation, partnership, or disregarded entity 12.

However, it is important to note that the election is only effective for federal tax purposes and does not affect the trust’s classification under state law 3. Additionally, the election is binding for five years, unless the entity meets certain criteria to request a revocation of the election 1.

I hope this helps! Let me know if you have any other questions.

Source: Microsoft Bing AI.

Learn how to reclassify your trusts under your revocable entity with form 8832. This is the fastest easiest way to update your companies in the internal revenue system.

See a step by step walkthrough of a 8832 form being filled out for FREE;

Source: https://onpay.com/payroll/process/form-8832-instructions