Which of the following doe not accurately describe grantor trust Us treated as if the property is 100 percent owned by the grantor are treated similarly to single member Llc disregard entities Income and deduction allocated to the grantor under these rules are reported as if earned by the grantor on their 1040 To be treated as a grantor trust the person taxed as the grantor must have the right to withdraw assets from the trust Even though assets are treated as owned by the grantor for income tax purposes they may not be treated as part of the grantor estate