Money received from my trust
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Money received from my trust

I withdrew money from my trust fund to use as a down payment for my house. The bank said that since my trust pays its own taxes(?) that i wont need to report that money on my taxes. Is that correct or do I need to report the money i received somewhere on my taxes?
1 Reply
New Member

Money received from my trust

That is correct.  The trust files an annual tax return.  The recipients don't report anything related to the trust.

Dynamic Ads
v
Privacy Settings