The trust will provide the Grantor letter that will focus on the tax treatment of income earned within a trust and provide details for beneficiaries to report the income on their personal tax returns. You should know what to report when it is received. A trust return may not be required and it would seem the master trust is being handled. Only you can check this information.
If you meet the qualifications to claim your child you will still claim her.
- Who can I claim as a dependent?
Depending on the amount and type of income you may need to consider information provided here:
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