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I am trustee for an irrevocable trust established Feb 28,
I am trustee for an irrevocable trust established Feb 28, 2017. During calendar year 2017, the trust earned a total of $10,024.74. I did NOT distribute the income to the trust's beneficiary, which is … read more
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My husband & I have a revocable living trust where we were
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Would it be possible and my cousins who are listed as
would it be possible for myself and my cousins who are listed as beneficiaries to petition to have our generational skipping trust given to us before the maturity date ? My father is the executor and … read more
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I need to give a K1 form to my sister. I have her SSN so can
I need to give a K1 form to my sister. I have her SSN so can give the info to IRS, but she is in the process of moving and is refusing to give me her new address. By the time the form goes out she wil… read more
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Subject: Reporting the final distribution of Trust
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What are the tax implications of withdrawing money from a trust? The trust was set up by my father. I am the sole beneficiary of the trust. The details of the trust specify that I am entitled to withd… read more
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I am a NYC resisdent (Queens) and I was a trustee to a residential
I am a NYC resisdent (Queens) and I was a trustee to a residential property which was sold (Staten Island) in 2013. The executor has told me I do not have to declare it on my taxes. Is that correct? T… read more
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My mother and my father are trustees of an exempt trust left
My mother and my father are trustees of an exempt trust left to her by my mother's father. Can they take a trustee fee (1% in total for both on real estate and investment portfolio) as Employment Taxa… read more
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The revocable trust is the designated beneficiary of the IRA.
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My mother died 7/4/2010 leaving nine living children. My parents
My mother died 7/4/2010 leaving nine living children. My parents had established a family trust prior to my father's death in l996. Two siblings were named as trustees by my father and the same two we… read more
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My daughter has a section 142.005 trust. if distributions are
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i received a K1 form from the trustee of an estate. The amount
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Is a trustee of a trust required to report the status of the
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Trust A (1.3mil estate previously filed, no taxes owing to
Trust "A" (1.3mil estate previously filed, no taxes owing to either Fed or State of NJ), is now held for the benefit of Trust "B" as each owns one half of same property. When beneficiary/Trustee of Tr… read more
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My husband is a beneficiary of his fathers estate; he ...
My husband is a beneficiary of his father''s estate; he died last year. He is entitled to 1/6 of the trust. Should he have received a schedule K-1 for money distributed out of the trust? and the sale … read more
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My Grandmother passed away May 25, 2006. My Aunt is the ...
My Grandmother passed away May 25, 2006. My Aunt is the trustee of my Grandmother's estate. As a partial beneficiary of her estate, I received my dispursement On November 8, 2006. Enclosed within the … read more
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