Julie is the beneficiary of a discretionary trust. She is 20 years old.

Julie is the beneficiary of a discretionary trust. She is 20 years old. Last year, she received a $3,000 distribution from the trust. Julie had no other sources of income for the year.

Who is liable for tax on Julie's trust income?

		Her parents
		Julie
		No one
		Trustee of the trust

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Expert Solution

Julie is the beneficiary of a discretionary trust. She is 20 years old. Last year, she received a $3,000 distribution from the trust. Julie had no other sources of income for the year.

Trustee of the trust , Trustee Liable to file Form 1041 and pay taxes accordingly.

ekkarill92 answered 2 years ago

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