sjrcpa
Level 15
3 weeks ago
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Does Bob the beneficiary have control over distributions?
Or Bob the Trustee can distribute to Bob the beneficiary? And I've never seen a Trustee without the power to buy and sell, although a grantor could prohibit that.
I think your GST Trust needs to file a 1041. To the extent of the trust income, if Bob received distributions from the Trust his K-1 will have income.
The more I know the more I don’t know.