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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29919
Experience:  Taxes, Immigration, Labor Relations
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I set up an irrevocable trust for my daughter 12 years ago.

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I set up an irrevocable trust for my daughter 12 years ago. I have made the maximum contribution each year and the trust paid taxes on any gains. She has about $100,000.00 available and if she took it all out at once is the entire amount taxable as ordianry income?


Hi and welcome to Just Answer!
As long as the trust paid all income taxes - the distribution to the beneficiary is not taxable.
Let me know if you need any help or clarification.

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