Trust and less available funds
Having an issue with distributions from a trust.
The total money available in a trust is now less than the amount to be distributed according to the trust documents. Now, interest has accrued for the past 4 years since the the trust was opened. Do the beneficiaries need to receive a 1099-INT for the amount that has accrued since then? And is that interest taxable to the beneficiaries?
Thanks in advance.
