Hi all -
I have another tax preparation type question that I haven't been able
to find the answer to.
Say an irrevocable trust sells real property, and there is a long term
capital gain. When the trust distributes the money it beneficiaries it
gets a deduction and the beneficiaries recognize income. But is that
income ordinary income or long term capital gain?
Thanks for any insight.
- posted 1 year ago
-- Stu http://DownToEarthLawyer.com