I am the trustee for my niece's college trust. In 2019 I deposited additional money into the trust. It was a gift from my sister to my niece. Does it count as "income"? Do I need to account for it in the trust's taxes in any way?
01504
1 Best answer
Anonymous_
Level 15
Feb 8, 2020 1:01:02 PM
A gift to a trust is generally considered to be a gift to the beneficiary(ies); it is not considered "income" to the trust that would be taxable.
1 Replies
Anonymous_
Level 15
Feb 8, 2020 1:01:02 PM
A gift to a trust is generally considered to be a gift to the beneficiary(ies); it is not considered "income" to the trust that would be taxable.