Which of the following does not accurately describe grantor trusts?

Grantor trust treated as if the property is 100% owned by the grantor are treated similarly to single member LLC disregarded entities for income tax purposes

The items of income and deduction allocable to the grantor under these rules are reported as if earned/paid directly by the grantor on their form 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's estate