Yes, if you are supporting her and if she does not have income than you can claim her as a dependent on your tax return.
Did the trust fund give you a K-1 reporting interest of $350?
Let me know if you have any question.
Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.
If she has interest income of $5000 than this is more than $3650 (personal exemption) allowed under the gross income test.
Hence, you cannot claim her as your dependent.