<p>^ If it’s a trust it should have its own EIN. Interest payments will be assigned to the SSN of the recipient of those interest payments. As several prior posters have said, it’s not unusual that interest payments be imputed, even if those interest payments are not distributed. From the OPs comments it seems that some distribution is taking place.</p>
<p>Estimating present value can be problematic. This may or may not be true in the OPs case. What value does one place on property that cannot be liquidated, or which has a major undetermined liability associated with it? Not to nit pick the issue, but if the major asset within the trust is a business and that business is in bankruptsy, what value would one assign?</p>
<p>As someone ^ points out, whatever course you take had better be defensible. Who better to help with that than an attorney?</p>