Revocable Trust Tax Liability

[DeadZone48]

What is the name of your state? Missouri

I am receiving funds from a revocable trust that was held by a great uncle. The trust was worth $2.7 million and after expenses I received 1/90th of it which comes to around $24,000. The were federal estate taxes of $305,000 paid on the trust already. I have been told by one person who worked for a tax preperation company that she didn't think I would owe anything since taxes were already paid on it, while others have said I would owe up to 30% on it. Who is right here. I won't receive my K-1 until late in March so I was just wondering what I will owe when the check arrives. Thank you.

[tranquility]

From your description, the trust is probably no longer revocable. From your facts, it is impossible to tell. You are going to have to wait for the K-1 to know if it is a distribution from the corpus or from income and if tax has already been paid on the income.