dmertz
Level 15

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.