It depends on what you are inheriting through the Trust.
Usually an inheritance is not included in taxable income and is not reported on your tax return. However, there are some situation where you will recognize income from inherited assets.
If you inherited a non-spousal retirement fund and that fund was made with tax free contributions, you would have to recognize the distribution from that fund as income on your tax return. Also if the trust sold any capital assets that appreciated between the time inherited and the time sold, you would recognize a long term capital gain on the sales price over the basis (FMV at time of inheritance).
Here is a link to more information about inheritance:
https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Video--Is-Inheritance-Money-Counted-...
Yes
No
