Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 11, 2020 6:25:57 PM

Final Trust Filing distribution to another Trust

My Mother passed away which resulted in an Irrevocable Trust Being funded with a life insurance policy and proceeds from her house.  The entire trust was then split into trusts for each child. I am the Trustee of the original trust and am filing the taxes.   Do I report a distribution from the original trust to each of the new trusts under their EIN Numbers sending them a K1?

0 1 576
1 Replies
Level 5
Feb 11, 2020 6:46:49 PM

you are right.....the benes are the trusts so report distributions to each of the new trusts and use their EIN numbers.