You have to read the trust document but, typically, distributions carry through income that is taxable to the beneficiary. However, capital gains typically remain with the trust (and the trust is liable for taxes thereon). Nevertheless, the trust instrument could very well give you the discretion to distribute whatever type of income/gain is necessary and even invade the corpus.
Since you mentioned you are new to this, you should absolutely seek professional tax and/or legal guidance and even income tax preparation. The rationale behind that suggestion is you have a fiduciary responsibility to the beneficiary and can be held liable for any errors on your part; you want to be able to show that you acted reasonably and engaged professionals in instances where you do not have the requisite knowledge to act in a competent manner.
