a trust recieves 1099 r for distributions may to three benificaries. box 2 has amount in it that is taxable. Is this taxable income to the trust or is it distruibute on the K-1s. Is it taxable to the beneficiares? Is none of it nontaxable because it is being paying out an estate.
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Taxable to the trust, to the point it is not distributed to the beneficiaries. Read the trust doc and do the trust return. -
Is this distribution a Pension Distribution or is it an IRA Distribution.
In your "subject" you have Box 5 - What does Box 5 represent? Is it for that portion of non-taxable distribution or could it be some health ins premiums reflected, might depend on he issuer of the 1099R
Joan is correct though, you will need to look to the Trust Agreement to see if the Trust pays the Tax or if you will pass through to the beneficiaries via form 1041- K-1
SandyLast edited by S T; 02-27-2013, 05:20 AM.Comment
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