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posted Jun 1, 2019 12:49:35 PM

I am sole beneficiary of a trust. A charitable donation was made from the trust. Can this donation be deducted on my person income tax return?

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1 Best answer
Intuit Alumni
Jun 1, 2019 12:49:37 PM

It depends on the type of trust.

In  general, the trust files its own tax return, based on whatever income the assets earn over the year. It also gets to take deductions: if your trustee donates money to charity, the trust takes the write-off. The trust can take a deduction equal to 100 percent of its income for the year, but no more than that.

Exception:
However, if the trust is a Simple Trust, by definition, simple trusts are not permitted to make charitable contributions, as all the income generated through a simple trust must be distributed to the trust's beneficiaries. ... No deduction is allowed for amounts distributed to charities that are not paid from items included in taxable gross income.

1 Replies
Intuit Alumni
Jun 1, 2019 12:49:37 PM

It depends on the type of trust.

In  general, the trust files its own tax return, based on whatever income the assets earn over the year. It also gets to take deductions: if your trustee donates money to charity, the trust takes the write-off. The trust can take a deduction equal to 100 percent of its income for the year, but no more than that.

Exception:
However, if the trust is a Simple Trust, by definition, simple trusts are not permitted to make charitable contributions, as all the income generated through a simple trust must be distributed to the trust's beneficiaries. ... No deduction is allowed for amounts distributed to charities that are not paid from items included in taxable gross income.