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One more thing, @sjrcpa: The only income reported in this 1041 is $2 interest + $5 dividends + $65 capital gains. Expenses = $750 accountants fee for 2024 tax r...
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You're absolutely right of course I am overthinking things. Thank you for talking me through this concern. I appreciate you.
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There were $65 capital gains and these are distributed to the beneficiaries.
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The CT refund was for the taxes withheld on a 1099R that was paid into the trust in 2024. There was no tax liability, and no deduction was taken for the tax. I ...
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I don't really. I just want to understand the tax law. The $6500 is distributable corpus. The taxable income would be interest+dividends+capital gains and maybe...
