TAXABLE DISTRIBUTION

TAXABLE DISTRIBUTION taxable distribution. A generation-skipping transfer from a trust to the beneficiary (i.e., the skip person) that is neither a direct skip nor a taxable termination. See GENERATION-SKIPPING TRANSFER; generation-skipping transfer tax under TAX; generation-skipping trust under TRUST; SKIP PERSON. [Cases: Internal Revenue 4224.] What is the legal equivalent of the term TAXABLE DISTRIBUTION […]