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T
Tpollaro
Level 2
April 10, 2024

Decendant names his trust the beneficiary of his IRA. Is that considered a distribution and taxable to the trust?

  • April 10, 2024
  • 2 replies
  • 6 views
No text available

    2 replies

    IRonMaN
    IRonMaN
    Level 15
    April 10, 2024

    Nope

    Slava Ukraini!
      sjrcpa
      sjrcpa
      Level 15
      April 11, 2024

      Not until the trust receives a distribution.

      The more I know the more I don’t know.
        qbteachmt
        qbteachmt
        Level 15
        April 11, 2024

        "Decendant"

        Has the person died?

        Decedent = they have died, and their account transfers to the trust. The Trustee requests a distribution to close the account, and sends the funds to beneficiaries. Or, has the account put into Inherited IRA accounts, one for each beneficiary = no distribution has been made. Or? What else has happened?

        Descendant = offspring of the decedent.

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