USA dissolved trust/disability taxes

Sep 15, 2012
Reaction score

I'm looking for some planning advice regarding taxes.

I have been on SSDI for a number of years and paid no taxes for a long time since I was unable to function well. My taxable income came mostly from small capital gains from stock dividends that were in trust. Otherwise I had no income and the disability portion of my income was too low to be taxed.

Last year the trust dissolved and it was transferred to my name solely. Contents of the trust were solely stocks.

I have two questions. Is there in fact a time limit in which I cannot be back charged for taxes during the time I was unable to function?

And, I can foresee selling a portion of the stocks in the future, which I am loathe to do for tax reasons. What is the best course of action if I intend to sell some stock.


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question