My father died this year and I am the trustee for his estate. I have siblings so that there are 5 beneficiaries.
Part of my father's holdings were in a traditional IRA that was passed through to his living trust. We beneficiaries agreed to distribute the value of the account over 3 years.
The trust was issued a 1099R for the 2022 RMD but we assumed the taxes would be paid by the beneficiaries. How is this income reported? I was advised the taxes would be passed through but there is no supporting 1099R for we individuals.
Or will this be reported on a K-1 schedule from the trust and affect 2023 taxes for the beneficiaries?
