trusts

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unionjack
Posts: 15
Joined: Sun Feb 24, 2008 4:27 am

trusts

Post by unionjack »

I have some money in a money market fund with RBC Securities and noticed that the T3 they sent says its a "statement of trust income allocations." (They seem to be referring to the fund as a trust.) Is this the kind of "trust" that the IRS means when it asks if you have a stake in "foreign trusts" on 1040 schedule B?

I can't find a clear answer on IRS site; by "trust" I think they mean tax-free instruments that one person manages for another's benefit, but am not sure if this is right or how broad a term it is (i.e. does it include the kind of fund that I have at RBC.)

Sorry if this is a dumb question -- I'm a bit confused about it and was hoping someone here would be able to help clarify it.
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

No.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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unionjack
Posts: 15
Joined: Sun Feb 24, 2008 4:27 am

Post by unionjack »

Thanks.
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unionjack
Posts: 15
Joined: Sun Feb 24, 2008 4:27 am

Post by unionjack »

Thanks.
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