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Should I show the distribution of $6000 in 2016 tax return if we already paid taxes on it in 2015?
In 2015 Grantor trust (6 grantors) received distribution $7000 and Schedule K-1 from another complex trust where the 6 grantor's are beneficiaries. The Grantor trust filed 2015 tax return showed the distribution of $7000 in Grantors letters ($1,166 to each grantor).But the actual distribution was made in 2016 and only $1000 to each grantor.
Should we show the distribution of $6000 in 2016 tax return if we already paid taxes on it in 2015 ?
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‎June 4, 2019
3:27 PM