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Get your taxes done using TurboTax
OK, I understand that Income for the taxable year that is required to be distributed currently to the beneficiary(ies) is included in the gross income of the beneficiary(ies) whether it is actually distributed or not. But what if there is no timetable for the distribution to beneficiaries specified in either the will or the trust, and the income is not necessarily required to be distributed in the tax year in question? Can the estate pay the tax, and later distribute the income to the beneficiaries?
‎June 3, 2019
4:54 PM