Q: I received my portion of a trust in 2014. The Trustee did not file taxes on my portion. Who is responsible for the tax?
The trustee did not file taxes for the trust account in 2014 and now the IRS is asking for money. Who is ultimately liable for these funds?
A: You did not provide enough information on the source of the funds you received. The general rule is that distribution of trust income is taxable to the beneficiary (you), but distributions of the trust assets to the beneficiary are not.
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