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June 1, 2019
Question

We have a trust for our daughter, do we have to pay tax when no mney has been withdrawn?

  • June 1, 2019
  • 1 reply
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Received 1099 on an account set up for daughter that cannot be withdrawn from until 18.  Do I include that in our tax return?  Why do I have to pay tax on that now?

1 reply

June 1, 2019

You will have to include any 1099's that you've received in your filing.  Is the 1099 for accrued interest on the account?  If so, that's a form of income.