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In most cases little to none of the distribution is taxable income to you. However, the tax rules for trusts and beneficiaries are very complex. Only the trustee who manages the trust will know the definite answer. If you do need to report some of the distribution as taxable income, the trustee will give you a Form K-1 to use in preparing your taxes.
In most cases little to none of the distribution is taxable income to you. However, the tax rules for trusts and beneficiaries are very complex. Only the trustee who manages the trust will know the definite answer. If you do need to report some of the distribution as taxable income, the trustee will give you a Form K-1 to use in preparing your taxes.
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