https://ttlc.intuit.com/community/taxes/discussion/complex-trust-distributions/01/2011443#M724907 <P>we doing a close out on this trust and made a distribution of proceeds, which includes the dividends and gains.&nbsp;&nbsp;</P><P>what is taxable on the k-1 to the beneficiary, just the gains/dividends or the entire distribution.&nbsp; when I entered it on the trust tax form and downloaded the 1099, it&nbsp; did not show the proceeds on the k1, just the "income".&nbsp;</P> Mon, 01 Mar 2021 21:26:30 GMT jlamay2020 2021-03-01T21:26:30Z https://ttlc.intuit.com/community/taxes/discussion/complex-trust-distributions/01/2011443#M724907 <P>we doing a close out on this trust and made a distribution of proceeds, which includes the dividends and gains.&nbsp;&nbsp;</P><P>what is taxable on the k-1 to the beneficiary, just the gains/dividends or the entire distribution.&nbsp; when I entered it on the trust tax form and downloaded the 1099, it&nbsp; did not show the proceeds on the k1, just the "income".&nbsp;</P> Mon, 01 Mar 2021 21:26:30 GMT https://ttlc.intuit.com/community/taxes/discussion/complex-trust-distributions/01/2011443#M724907 jlamay2020 2021-03-01T21:26:30Z https://ttlc.intuit.com/community/taxes/discussion/re-complex-trust-distributions/01/2011464#M724909 <P>The corpus (principal) of the trust that was distributed to the beneficiaries is not ordinarily taxable.</P> <P>&nbsp;</P> <P>Only the items of income and gain are taxable to the beneficiaries when passed through on their K-1s.</P> Mon, 01 Mar 2021 21:29:32 GMT https://ttlc.intuit.com/community/taxes/discussion/re-complex-trust-distributions/01/2011464#M724909 Anonymous_ 2021-03-01T21:29:32Z