MarilynG1
Expert Alumni

Get your taxes done using TurboTax

1. Your brother may not have to pay tax on the funds moved from the trust; however, the trust will most likely report the movement. It also depends on whether the original funds were from a fund like an IRA, or whether it was 'after tax' money. 

 

2.  No, if your brother gives you cash from his bank account, yes, it would be a gift.  He reports the gift, not you, if it exceeds 18K.

 

3.  Since he reports the gift, you don't have to do anything.

 

Here's more info on Gift Taxes.

 

 

 

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