That's gross income of $600 OR ANY taxable income.
Otherwise you are correct.

ed

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With all the tax information out there, there seems to be
very little information outside of IRS.gov.

I've set up and been funding an irrevocable trust. For the
first few years, there was no form to file (the trustee is
an aunt, who expects that I'd direct her on the tax issues
that need to be addressed) because the trust was funded with
non-dividend paying stocks, so no interest, no dividends.
This year, there were dividends totaling $400.

Am I correct that all that needs to be done is file the 1041
and have the trustee issue my child the K1, and cut the
check for dividend from the trust? (trust is required to
distribute income)

Since the child has no other income, I'd think I don't need
to even file a return, since under $800 for a child has no
tax due.

So the trustee having to file this is just a matter of
record keeping? I recall that in 99, the forms said if the
trust income was under $600, no return was even needed, so I
didn't pay too much attention till now.

Thanks for any help.
JOE

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