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Level 2
posted Apr 10, 2025 11:25:03 AM

pay taxes on award settlement for trust

I filed a 1041 final return for the complex trust in 2021...however I received a 2024 1099-INT  for an award settlement that I received in summer 2024 with the trust as a recipient.....do I need to file and pay taxes on this.....(check received is same amt as the interest in box 1).....I deposited it into the trust bank acct which I have not closed yet ...

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