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Can a simple trust become a complex trust when all income, incl capital gain, is required to be distributed?
As Trustee I've been distributing all royalty income for mineral rights to beneficiaries annually. I am also one of the beneficiaries. Last year the mineral rights were sold to a development company. The Trust has been considered a simple trust. Is it now a complex trust since capital gains were distributed?
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‎June 1, 2019
12:01 AM