Solved: I received a gift from a family trust. It indicated that it was non taxable. Is that correct?
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I received a gift from a family trust. It indicated that it was non taxable. Is that correct?

 
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Level 15

I received a gift from a family trust. It indicated that it was non taxable. Is that correct?

"I received a gift from a family trust."

Gifts are generally not taxable to the recipient. However, since the gift originated from a trust, you might want to contact the trustee (administrator) of the trust to ensure you will not be getting a tax reporting statement (e.g., Schedule K-1).

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Level 15

I received a gift from a family trust. It indicated that it was non taxable. Is that correct?

"I received a gift from a family trust."

Gifts are generally not taxable to the recipient. However, since the gift originated from a trust, you might want to contact the trustee (administrator) of the trust to ensure you will not be getting a tax reporting statement (e.g., Schedule K-1).

View solution in original post

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