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how would $$60,000 inheritance from a trust be taxed

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how would $$60,000 inheritance...
how would $$60,000 inheritance from a trust be taxed?
Submitted: 6 years ago.Category: Tax
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10/1/2011
Tax Professional: Jax Tax, Tax Attorney replied 6 years ago
Jax Tax
Jax Tax, Tax Attorney
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Jax Tax : Inheritances are not taxed in the US.
Jax Tax : Money that the trust earns after it is inherited will be taxed via a K1 issued to the beneficiary.
Jax Tax : The income type will remain the same. So if the trust has capital gain, it is reported and taxed to the beneficiary as capital gain. Rental, rental and so on.
Customer:

When is the K1 issued after distribution?

Jax Tax
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Tax Professional: Jax Tax, Tax Attorney replied 6 years ago
The trust will file a tax return every year. The trustee is responsible. The K1 is a result of the yearly tax filing.
Jax Tax
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