- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Thank you! Sounds like I was making it more complicated than necessary.
So for funds to be considered "from the corpus" they should not be claimed as distributions and it is then the trust's (fiduciary's) responsibility to pay the taxes. If this is basically correct then it seems this is the simplest way to handle distributions correctly. I hope I have this right.
From things I read last year, I recall that the IRS wants the method to be consistent from year to year. It seems like a wise request especially for those of us doing our own returns.
‎February 25, 2023
10:59 AM