Question
California Trust Form 541
OK, you Golden State Tax Warriors. What would you do with a trust that has an Arizona resident trustee and a California resident beneficiary? If it makes a difference, the grantor was an Arizona resident when the trust was established but is now also a California resident.
And the trust has taxable income, because of capital gains. There is no real estate, all of the assets are stocks and bonds.
Will California credit Arizona taxes owed? If so, am I correct that ProSeries doesn't have the Schedule S for trust returns, so it has to be done the old-fashioned way?
