What is the name of your state (only U.S. law)? FL
A trust tax question. If a trust is inherited, that has the terms of paying out 10% of principle every year (adjusted annually), for 15 years, after which the trust is dissolved and the remainder is paid to the inheritor; would the amount distributed above the initial value of the trust be taxable as capital gains?
A trust tax question. If a trust is inherited, that has the terms of paying out 10% of principle every year (adjusted annually), for 15 years, after which the trust is dissolved and the remainder is paid to the inheritor; would the amount distributed above the initial value of the trust be taxable as capital gains?