MikeB_CPA
Level 5
03-03-2021
12:17 PM
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I am preparing a return for a Complex Trust which has one individual beneficiary. I want to transfer all income (interest, dividends, and capital gains) from the Trust to the individual beneficiary via the K-1. It seems that it is possible to do this and thereby take advantage of the income distribution deduction on the 1041. Am I overlooking anything in arriving at this conclusion? Any comments will be appreciated. Thanks!
Mike
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BobKamman
Level 15
03-03-2021
12:23 PM
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How much was distributed to the beneficiary in 2020, or at least, how much was required to be distributed to the beneficiary?
sjrcpa
Level 15
03-03-2021
12:28 PM
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Does the trust document and/or state law permit capital gains to be distributed?
The more I know the more I don’t know.
