Discussion:BENEFICIARY
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Discussion Forum Index --> Tax Questions --> BENEFICIARY
| 16 February 2007 | |
| WHEN A PARENT AND/OR MOTHERINLAW PASSES AND THE MONIES THAT WERE IN TRUST FOR
THE BENEFICIARIES IS SENT BY THE COMMERCIAL INSTITUTION. HOW ARE THE PROCEEDS TAXED TO THE INDIVIDUALS??? | |
| 16 February 2007 | |
| The proceeds are not taxed, only the income they earned. You should get a K-1. | |
| 19 March 2007 | |
| Is the amount of growth of decedent's tax-deferred investments as of date of death always considered IRD? | |
| 19 March 2007 | |
| What you want to understand is that the tax deferred income is going to be taxed when the beneficiary withdraws the money whether the growth happened before or after death. | |
| 19 March 2007 | |
| Yeah, I know. I was just interested in the proper terminology. | |
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