- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You are substantially correct; distributions of principal (corpus) do not have tax consequences but income does have tax consequences (e.g., interest, dividends, retirement accounts, etc.).
Hopefully, the trust is not named as the primary beneficiary of the IRA as that's generally not a great idea unless there are exigent circumstances.
Friday