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MequonCPA
MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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Is the final distribution of a trust to the beneficiaries taxible

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Is the final distribution of a trust to the beneficiaries taxible as income to the beneficiaries?
Hi -

In the final year of a trust, all income and expenses is passed through to the beneficiaries. The trust will have no taxable income.

The beneficiaries income is not the distribution amount, but rather their portion of the income/losses of the trust in the final year.
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