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Get your taxes done using TurboTax
Since each beneficiary received their share according to dad's will, they won't receive a K-1. As Trustee, I will pay the total tax liability based on the capital gains that will be reported on the 1099 for the Irrevocable Trust. All equities were sold in the Irrevocable Trust and the proceeds were distributed to the beneficiaries based on the percentages identified in the Will.
May 7, 2022
5:54 PM