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dale-courtright
Returning Member

Can a Survivors Trust receive federal and state income tax refund?

A Family Survivors (complex) Trust receives monthly annuity payments from an insurance company and that company withholds federal and state income tax. The exact amounts withheld show up on my Trust 1041 federal and 141 state as refunds. Does the Trust receive the refunds or should they flow through to the beneficiary with all the other Trust income?

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Accepted Solutions

Can a Survivors Trust receive federal and state income tax refund?

" Does the Trust receive the refunds or should they flow through to the beneficiary with all the other Trust income?"

 

Except for backup withholding, withheld income tax cannot be passed through to beneficiaries.
 

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5 Replies

Can a Survivors Trust receive federal and state income tax refund?

" Does the Trust receive the refunds or should they flow through to the beneficiary with all the other Trust income?"

 

Except for backup withholding, withheld income tax cannot be passed through to beneficiaries.
 
dale-courtright
Returning Member

Can a Survivors Trust receive federal and state income tax refund?

So I should file the Fed and State returns and expect refunds from both? This is a Family Survivors (complex) Trust

Can a Survivors Trust receive federal and state income tax refund?

I am not sure about your state, but you will get a refund (in the name of the trust) from the feds.
dale-courtright
Returning Member

Can a Survivors Trust receive federal and state income tax refund?

Thank you!

Can a Survivors Trust receive federal and state income tax refund?

You are most welcome.
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