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Does the beneficiary or the trust pay the taxes due?

SOLVEDby TurboTax547Updated 2 hours ago

Whoever keeps the income pays the taxes due. If the income goes to the beneficiary on a Schedule K-1, the beneficiary must pay the tax on that income.

The fiduciary of the trust can't pay taxes on distributed income, but they're responsible for paying any taxes due prior to any distributions.

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