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1099 filing requirements for Trust

January 11, 2017 • Anonymous • Log In to Post Comments

I wanted to ask if the Trust  (who is not engage in trade or business) is required to issue 1099 to recipients for legal fees ,  trustee fees paid and other expenses (deductions not subject to 2% floor)  to maintain the trust  assets.  These trust assets are collectibles which are occasionally sold for the benefit of the trust beneficiaries. In this scenario, the Trust do not have a Schedule C or Schedule E.

 


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