When the Irrevocable Trust was set up it gave permission to my Dad to withdraw income or principal by requesting in writing to the trustees. So if he makes a withdrawal how is accounted for. Seems that there have been changes in the tax law since the Trust was setup and it would be best if he just gave the money to the beneficiaries. With the beneficiary being taxed only on their portion of the earned interest as it is less than $250K.
Thank you for your response.
