Have a Tax Question? Ask a Tax Expert
You should receive a form K-1 - http://www.irs.gov/pub/irs-pdf/f1041sk1.pdf from the trust that reports to you and to the IRS taxable portion of the distribution.
If would also report itemized types of taxable distribution - thus - because some of your distribution is a result of selling stocks held more than a year - that would be long term capital gain and is taxable at reduced tax rate - not more than 50%
Your actual federal tax rate depends on the total taxable income, filing status, deductions, etc.
There is no income tax in Florida, but there is an income tax in Wisconsin.
Because the distribution was made when you was a resident of Wisconsin - the taxable part of distribution will be included into your Wisconsin state income tax return.
Depending on your total taxable income - Wisconsin tax rates are between 4.6% and 6.75%.
Please let me know if you need any help to estimate your tax liability.