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How do I indicate distribution status for income/capital gains to beneficiaries on Form 1041?
There is a complex trust (original grantor passed away in 2023) that received income in 2023 from interest/dividends and capital gains. Most, but not all, of the trust assets were distributed to the beneficiaries during 2023. The interest and capital gains have not been distributed yet (are still in trust). How should this be indicated on Form 1041 or related schedules?
March 26, 2024
8:44 AM