Solved
trust
how do you determine if a distribution from a trust is tier 1 or tier 2. The trust in question is a complex trust that does not require yearly distributions.
thank you.
Tier 2 distributions would be all amounts paid to beneficiaries other than Tier 1 distributions.
Tier 1 distributions are mandatory (they are required to be paid) and not discretionary.
Ref Section 662(a)(1)
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