Legal Question in Wills and Trusts in Florida
Fiduciary income tax returns
Does a testamentary trust created from an estate by law have to pay the fiduciary income tax return? If yes, does the trust pay only the portion of income tax earned by trustee from admin of trust, or pay trustee's total income tax return? Is tax to be paid from principal or interest? Re:Limited partnership; shares transferred to an unknown foreign site, foreign taxes paid on K-1 for 3 years, then no more K-1 filed or foreign tax paid. How do I find out where foreign site is, and why K-1 are no longer filed? Limited partnership is still current.
Asked on 1/03/05, 9:34 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: Fiduciary income tax returns
Yes, the trust must pay an income tax if it made income.
Answered on 1/03/05, 11:26 am
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