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05/24/2012 at 04:51PM PDT
Important Announcement! A planned system-wide upgrade will take place over the Memorial Day Weekend in the US (From Thurs, May 24, 2012 at 6 pm PDT thru Tues, May 29, 2012 at 5 am PDT). This includes QuickBooks, QuickBooks Payroll, Point of Sale, & Salesforce.com. This is only for US based products. This does not affect QuickBooks Online customers! During this time, you can shop, but can’t place orders online, activate products or update account info. We apologize for the inconvenience & thank you for patience while we improve our infrastructure to better serve you. International versions are unaffected. For more info, see our community discussion.
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mrshay
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03/18/11 9:46am PDT

Capital gains tax on trusts & estates.

ProSeries : 2010

Securities held in family trust were liquidated subsequent to death of trustor. Distributions to beneficiaries (children of trustor) made in cash. Who pays taxes on cap gains? Trust or beneficiaries? Or part to both  ie. trust on the portion of incr in FMV unitl date of death, benefic on incr in FMV after date of death?-

 

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What does the trust document say?  If it's silent on the subject, then generally cap gains are allocated to the trust.  Except for sometimes.

Morons. I've got MORONS on my team. Nobody is going to rob us going DOWN the mountain. We have got no MONEY going DOWN the mountain. When we HAVE GOT the money, goin' back UP the mountain, THEN you can sweat.
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