Yes the income from the trust is taxable income to the owner of the trust or to the beneficiaries of the trust. Some one will have to pay income taxes on the income from the trust.
Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. Generally, taxable income refers to...
Has to...having the right to do so is what is required...you can't get tax deferral by not acting...it's in your controll - just like in a bank. Income beneficary is responsible for taxes distirbuted...
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