https://ttlc.intuit.com/community/taxes/discussion/distribution-from-trust/01/3650790#M1348924 <P>This trust was established in 2007.&nbsp; Each year since, we have reported on any dividends (gains or losses) or interest and, when appropriate, we paid tax.&nbsp; Now, we are closing the trust and have distributed the balance available.&nbsp; To me, that is not 2024 income, since the initial investment had already been taxed and any annual gains had been reported and taxed previously.</P><P>&nbsp;</P><P>Line 9 Sch B says Income required to be distributed currently.&nbsp; The final distribution was only in very small part, 2024 income.&nbsp; There is nothing left in the trust to distribute, so would that be 0?</P><P>&nbsp;</P><P>If so, then would the final distribution be on Line 10.&nbsp; Either way, the final distribution which was made in 2024 is not showing up on the K-1.&nbsp; Should it?</P><P>&nbsp;</P><P>&nbsp;</P><P>&nbsp;</P> Sun, 13 Apr 2025 00:53:10 GMT jgs1947 2025-04-13T00:53:10Z https://ttlc.intuit.com/community/taxes/discussion/distribution-from-trust/01/3650790#M1348924 <P>This trust was established in 2007.&nbsp; Each year since, we have reported on any dividends (gains or losses) or interest and, when appropriate, we paid tax.&nbsp; Now, we are closing the trust and have distributed the balance available.&nbsp; To me, that is not 2024 income, since the initial investment had already been taxed and any annual gains had been reported and taxed previously.</P><P>&nbsp;</P><P>Line 9 Sch B says Income required to be distributed currently.&nbsp; The final distribution was only in very small part, 2024 income.&nbsp; There is nothing left in the trust to distribute, so would that be 0?</P><P>&nbsp;</P><P>If so, then would the final distribution be on Line 10.&nbsp; Either way, the final distribution which was made in 2024 is not showing up on the K-1.&nbsp; Should it?</P><P>&nbsp;</P><P>&nbsp;</P><P>&nbsp;</P> Sun, 13 Apr 2025 00:53:10 GMT https://ttlc.intuit.com/community/taxes/discussion/distribution-from-trust/01/3650790#M1348924 jgs1947 2025-04-13T00:53:10Z