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Returning Member
posted Jan 26, 2022 2:23:20 PM

Do I pay taxes on an inherited revocable trust?

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1 Replies
Expert Alumni
Jan 26, 2022 2:32:53 PM

Do you mean you are the beneficiary or trustee of an inherited revocable trust?

If there is any income from trust assets, you would have to pay taxes. Also if there is the sale of any assets, you would have to pay taxes.  There may be estate taxes as well.

 

In general revocable trusts are created to avoid probate, but you do not avoid tax.  If you provides more details, we can help!