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Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
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- US Beneficiary of a foreign trust - anything taxable or reportable?
US Beneficiary of a foreign trust - anything taxable or reportable?
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2 Comments 2
sjrcpa
Level 15
02-16-2024
01:13 PM
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Did he have the right to distributions? Does he control when distributions occur?
If so, FBAR and/or 8938 may apply but it doesn't like 3520 does.
The more I know, the more I don't know.
ptax255
Level 7
02-16-2024
01:45 PM
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He will get distributions eventually when the person passes away. No control over distributions currently. He is not the trustee.
