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www.taxalmanac.org/index.php/Simple_Trusts.html

Simple Trusts. A trust (except a grantor type trust) is a separate legal entity for federal tax purposes. A trust may be created during an individual's life (inter vivos) or at the time of his or her death under a will (testamentary). A trust figures its gross income in much the same manner as an individual.

thismatter.com/money/tax/trust-taxation.htm

First-tier distributions are required distributions from trust income, which is stipulated in the trust document; the remaining distributions are second-tier distributions. If all distributions are within either the first- or second-tier, then the taxation of beneficiaries is calculated as it is for simple trusts.

www.irs.gov/pub/irs-tege/eotopicf01.pdf

A. Simple Trust A simple trust must distribute all its income currently. Generally, it cannot accumulate income, distribute out of corpus, or pay money for charitable purposes. If a trust distributes corpus during a year, as in the year it terminates, the trust becomes a complex trust for that year. Whether a trust is simple or complex ...

info.legalzoom.com/rules-regarding-distribution-trust-beneficiary-deceased...

How a trust is distributed depends on two things: the relevant trust law and the document that created the trust. Trust law varies based on the state where the property is located. The specific rules regarding distribution is defined by the declaration of trust, which is drafted according to the trust creator’s ...

www.investopedia.com/ask/answers/010815/how-are-trust-fund-earnings-taxed.asp

Trust funds are taxed differently, depending on the type of fund they are. A trust that distributes all its income is considered to be a simple trust; otherwise the trust is said to be complex. A ...

www.estateplanners.com/articles/what-is-a-complex-trust

All trusts must be classified in one of two ways for the purpose of paying federal income taxes – as a simple trust or a complex trust. Basically, a complex trust is one that cannot be classified as simple. In a nutshell, the complex trust is one that contains provisions for charitable gifts, an income stream, or concerns other types of wealth distribution.

www.estateplanners.com/articles/what-is-a-simple-trust

A trust can qualify as a simple trust in those tax years in which the trust distributes its income but makes no other types of distributions. This can be true even if there are no other distributions of the current income. Since a simple trust can be either irrevocable or revocable (living), this type of trust is relatively simple, like the ...

www.journalofaccountancy.com/issues/2010/oct/20102933.html

Estates and nongrantor trusts must file income tax returns just as individuals do, but with some important differences. For one, their income is taxed at either the entity or beneficiary level depending on whether it is allocated to principal or allocated to distributable income, and whether it is distributed to

www.kitces.com/blog/distributable-net-income-dni-tax-strategies-for-non...

Distributable Net Income From A Non-Grantor Bypass Trust. While the standard rule is that a non-grantor trust must report and pay taxes on any income it receives, trusts that make distributions to trust beneficiaries may pass through the income-tax-consequences of the trust’s income to those underlying beneficiaries as well.

macpamedia.org/media/downloads/2010CTC/Income_Taxation_of_Trusts_and_Estates_Basics...

2 BNY MELLON WEALTH MANAGEMENT Income Taxation of Trusts and Estates Code Outline PART I, SUBCHAPTER J – Subpart A - Sec. 641-646 - General Rules – Subpart B - Sec. 651-652 - Simple Trusts – Subpart C - Sec. 661-664 - Complex Trusts and CRT – Subpart D - Sec/ 665-668 - Accumulation Distributions – Subpart E - Sec. 671-678 - Grantor Trusts – Subpart F - Sec. 681-685 - Misc. Rules