Hello,
I am working on my Utah state tax filing and stuck on a specific item. It’s asking about “untaxed income of a nonresident trust”. I received money from a trust account in 2023. I was living in Utah at the time, but the trust was established in a different state. Do I need to report the amount that I received?
I already found this information:
“Enter any distribution received by a Utah resident beneficiary of a nonresident trust of undistributed distributable net income realized by the trust, if the income was taxed at the trust level for federal tax purposes but not taxed at the trust level by any state. Undistributed distributable net income is considered to be distributed from the most recently accumulated undistributed distributable net income.” Source: https://incometax.utah.gov/additions/nonresi[product key removed]e.
Unfortunately, I’m having a hard time understanding that language, so any help would be much appreciated.
Thank you!
