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So, if all trust income will be issued to one beneficiary, and is reported on their K-1 and the other beneficiary receives only a distribution of corpus and/or property, does that beneficiary also receive a K-1? That second beneficiary would have no trust income to show and no tax due.
How is the IRS notified that a beneficiary received cash and/or property?
‎January 20, 2022
10:47 AM