Taxable income, over $12,300, Tax is: $3,179.50 plus 39.6% of the excess over $12,300.
Young adults, (19-22), will inherit sizeable estate. (rental real estate/CD's/IRA).
Understand, if the Trust income is distributed, the income is taxed at the
recipient 's tax rate.
How have you guys handled this situation. More of an estate planning situation and young adults to young to handle large sums of money.
Young adults, (19-22), will inherit sizeable estate. (rental real estate/CD's/IRA).
Understand, if the Trust income is distributed, the income is taxed at the
recipient 's tax rate.
How have you guys handled this situation. More of an estate planning situation and young adults to young to handle large sums of money.