Legal Question in Tax Law in California

I'm inheriting my fathers non revokable trust. As I understand, only the interest earned from the trust is taxable, not the principle. My step mother received those monthly interest payments from the trust, before she passed away this year.

I'm of the opinion that I should not have to pay any taxes upon receipt of the trusts proceeds, since they would have been paid annually by my step mothers tax returns. I will have to pay inheritance taxes to Pennsylvania.


Asked on 11/30/23, 7:09 am

1 Answer from Attorneys
Richard Bryan Richard Bryan Attorney PC

The taxation of trust distributions is described by the Internal Revenue Code and Regulations, and state laws, and someone has to look at the trust and documents and figure out what's going on. You have to take everything to an experienced tax preparer.

Good luck.

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Answered on 12/01/23, 9:20 pm


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