Distribution of trust assets

[OldCPA]

Have a trust that completed a 1031 exchange on land & building in 2020 (this is the trust's only asset). The trust (& trustee) is in a state that does not have state tax so no issue with the state for the 1031 exchange.

Beneficiary is in another state. For federal purposes only, how long does the trust have to hold the exchanged assets before they can distribute the property out to the beneficiary?

Or is there even a holding period or can they distribute them at any time and file a final trust return?

Thanks in advance.

[tagteam]

This is nothing more than a distribution of corpus.

The trust can distribute the asset at any time since the beneficiary takes the asset with the trust's (adjusted) basis and holding period (i.e., essentially a carryover).

[OldCPA]

Thanks tagteam.

I've posted this elsewhere and no answers really.  

I thought maybe there was a code section I could hang my hat on.