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Simple Trust Question
If the only income a Trust had in 2024 was $105,000 from an Inherited IRA, which it distributed via K-1’s to the beneficiaries, and it also had less than $600 in income from interest and dividends, which it didn’t distribute, is it still considered a Simple Trust? I think it is 😀
posted
February 6, 2025
4:47 PM
last updated
February 06, 2025
4:47 PM
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Simple Trust Question
Yes, it is if, and only if, the trust is required to distribute all income currently.
February 6, 2025
5:44 PM
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