As a Trust beneficiary who recently received a trust distribution payment, can I show that income as 2019 income if I don't deposit that income until after Jan 2019? There are no other details or complications, just this. For me, paying taxes on the distribution as 2019 income would be easier on me than paying those IRS taxes for 2018 income. Note that I probably won't receive my K-1 distribution statement until after Jan 2019. Thanks!
You are going to prepare your 2018 income tax return in accordance with the K-1 from the trust.
Holding the check and not depositing it until 2019 has no effect and if it did it could open you up to tax fraud charges. You are in constructive receipt of the trust distribution in 2018.
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