I have 3 questions pertaining to gifting money to a irrevocable trust I would like to get answers to which are as follows:
1) Can a trustee and beneficiary of a irrevocable trust gift their very own personal money to the same trust ?
2) If so what is the maximum dollar amount that the trustee and beneficiary is allowed to gift per year?
3) Does the trust have to pay income taxes on any money it receives as a gift from the trustee and beneficiary ?
Thank you
