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Old 04-09-2009, 09:15 AM
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Interest and Dividends on 1041

My mother has set up an irrevocable trust for her sons. She can receive the income (trust invests in stocks), although she elects to reinvest income in the trust. She is the trustee.

Does this count as a complex trust?

Since she can receive the int/div, is she also a beneficiary?

Do we list the int/div on form 1041 on lines 1 and 2, then list them also as a deduction in schedule B - file K-1 - then list them on her personal 1040 and pay taxes on them there?

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