government agency in charge of managing the Federal Tax Code Go to source X Research source X Trustworthy Source Internal Revenue Service U.S. For example, if the beneficiary earned $2,000 in interest income from the trust, they would pay the same taxes on it that they paid for any other interest income. ![]() All income has the same character on the beneficiary's tax return as it does for the estate or trust.government agency in charge of managing the Federal Tax Code Go to source Beneficiaries must include the amount of income distributed to them from the estate or trust in their gross income for that year. ![]() Enter the beneficiary's income from the estate or trust in Boxes 1 through 8 of Part III, as appropriate.
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