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- Does a complex trust pay taxes on income that is left after completing a Schedule K1 to a beneficiary that is a foundation? Should I add another entry to avoid the tax
Does a complex trust pay taxes on income that is left after completing a Schedule K1 to a beneficiary that is a foundation? Should I add another entry to avoid the tax
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SherryCT
Level 1
04-06-2021
06:41 PM
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1 Comment 1
sjrcpa
Level 15
04-06-2021
06:46 PM
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Yes the trust pays tax on income that is not distributed to beneficiaries. It also pays tax on capital gains as these are considered principal and not income.
The more I know, the more I don't know.
