- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
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?
Topics:
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
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.