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-   -   Trust Funds (https://www.askmehelpdesk.com/showthread.php?t=622897)

  • Dec 28, 2011, 11:45 AM
    Victoria55
    Trust Funds
    Do you get taxed on money that's been left to you come tax time
  • Dec 28, 2011, 11:47 AM
    smoothy
    Not unless the government actually owes you any... from tax overpayments.

    They don't run Trust funds.
  • Dec 28, 2011, 11:54 AM
    ScottGem
    Taxes on inheritance are generally paid by the estate. There is also a federal exclusion of 2 million, that most states adopt.
  • Dec 28, 2011, 12:16 PM
    joypulv
    Ask the trustee. Someone pays taxes on the income earned on the trust funds. You will get a K1 if you pay it. Otherwise the trust pays it.

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