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Retirement tax questions
If the trust uses a calendar year, the income passed through to beneficiaries would be 2022 income to the beneficiaries. If this income is instead included a trust income tax return for a fiscal year ending in 2023 , it would be 2023 income to the beneficiaries. The end date of the trust's tax year is established with the filing of the first trust income tax return.
‎January 15, 2023
7:57 AM