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Personal Finance and Investing

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Marthe48

(20,424 posts)
Mon Nov 4, 2024, 01:30 PM Nov 2024

About distribution from a trust [View all]

If a trust fund is paid out, how do you figure out if you have to pay any taxes on it? I was reading about trusts funds and I understand that I wouldn't have to pay taxes on principal, but would have to pay taxes on interest or other income the money generated. If I get an amount of money from a trust, how is it determined what is principal and what is income?

I am curious about the methods, but I don't have the education to comprehend how the calculations are made.

Thanks fot any insight.

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About distribution from a trust [View all] Marthe48 Nov 2024 OP
I'm on my phone, so can't copy the link. Joinfortmill Nov 2024 #1
I did that, which led me to ask here Marthe48 Nov 2024 #2
The trustees will provide you with forms marybourg Nov 2024 #3
Thanks Marthe48 Nov 2024 #4
Check and see if the cost basis get adjusted IbogaProject Nov 2024 #5
Thank you Marthe48 Nov 2024 #6
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