cathyan Posted February 23, 2011 Report Share Posted February 23, 2011 A man put his assets in a family trust, and on his death, it was distributed to his heirs on a K1. $7800 in box 5 (other portfolio and nonbusiness income). Is this considered investment income to my client? Does it matter WHERE the money came from? If it not been put in a trust, and the kids just inheirited everything, would there still be investment income? I'm just getting into learning about estate planning, and this may be a drawback to trusts if the ones to inheirt are low-income. It seems to disqualify my client for EIC. Thanks for any input on this. Quote Link to comment Share on other sites More sharing options...
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