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Posted by baumgrenze on April 14, 2006, 3:26 am
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Income from Treasury Bonds is not taxable by the states.
I manage a trust which instructs me to pay any income it
earns to a beneficiary for the rest of her lifetime. If I
invest the assets of the trust in Treasuries, when I pass
the income from the trust to the beneficiary via a K-1 does
it retain its identity as income which is not taxable by the
state of Illinois?
The beneficiary is a life-long Illinois resident; the trust
was created by her deceased sister, also life-long Illinois
resident.
Thanks,
baumgrenze
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