- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
No, there is nothing for the tax return that needs to show that the assets were transferred to the beneficiary. Once you have filed the final return for the trust it will be closed.
Please have the trust provide a statement to the beneficiary that the transfer of the mutual funds was an " in-kind exchange" and not a sale. Therefore, there are no capital gains or losses on the transfer.
It is always a good idea to provide the beneficiary the cost basis in the mutual funds.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 22, 2020
3:47 PM
1,301 Views