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Ending a Trust

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B

blkgrape

Junior Member
What is the name of your state (only U.S. law)? FL

When it comes time to close a Special Needs Trust I was wondering how are the remaining funds in the account taxed when distributed to the Trustees (my sister and myself).
 


T

tranquility

Senior Member
It depends.

Are the funds corpus or income? Why are you getting the distribution? While we use shorthand like special needs trust, the actual wording of the trust has many tax and income facts which need to be read to know for sure.
 
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