Here are the specifics:
1. My family has a trust that pays out monthly distributions that are profits paid out from income made from a TIC shopping mall.
2. The trust receives a K-1 and the trust pays taxes on this monthly distribution.
3.Currently the beneficiaries of the trust are also paying taxes on their % of this distribution
4. Is it correct that both the Trust and the beneficiaries pay taxes on the monthly distributions? Seems like taxes are being paid twice for the same distribution paid.
5. The trust only acts a the collector and distributor of these monies.
Thank you in advance to anyone that can help on this.
Best
