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Family liquidation trust pays $40/month, but costs more than that in tax prep
Post Body
My wife receives $40/month from a family trust. Hurray $480 in free money!
But the trust NEVER provides tax documents in time. This year they said to expect paperwork in May.
I used to do my own taxes, but I've been using a CPA simply because I need to file incomplete and file again when I receive the Trust's paperwork. This adds $600 of cost.
How can I avoid refiling every year and losing money because of this stupid Trust? Can I tell the Trust to change our distribution behavior? Can I just throw $300 at the IRS when I file and avoid refiling since we owe less than $300 on the distribution? Can I donate the money?
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- 6 years ago
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