I've raised the issue about taxation of capital gains in Trusts, and have understood that the Trust pays the tax on Capital Gains rather than allocating the income to the beneficiaries.
However, Schedule D (Form 1041) has a Part III, which has a column allocating some or all of the capital gains to the beneficiaries. If the above is true, how is this possible?
However, Schedule D (Form 1041) has a Part III, which has a column allocating some or all of the capital gains to the beneficiaries. If the above is true, how is this possible?
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