Hello @thesherrya , thank you for being here. Sorry about your parents.
The trust can't pay taxes on distributed income but the trust is responsible for paying any taxes due prior to any distribution. The beneficiary must pay the tax on the income from issued by the trust. For more information please click on the link below regarding Schedule K-1 beneficiary's share of income, deductions, credit, etc.
Hello @thesherrya , thank you for being here. Sorry about your parents.
The trust can't pay taxes on distributed income but the trust is responsible for paying any taxes due prior to any distribution. The beneficiary must pay the tax on the income from issued by the trust. For more information please click on the link below regarding Schedule K-1 beneficiary's share of income, deductions, credit, etc.