I have a Complex trust, where income is (optionally) distributed to avoid the high Trust Tax brackets. Suppose $10k is distributed, but $9k goes directly into my checking account, and $1k goes directly from Trust to the IRS for Tax payments. On my K-1, does it show $9k, or $10k? Would it be different if $10k went into my checking account, then I (not the trust) wrote the check for the Trust's $1k tax liability?
Statistics: Posted by AS7911 — Sat Feb 10, 2024 1:01 pm — Replies 0 — Views 18