All good points.  My thought is this a complex trust, not simple, because there is no agreement to distribute earnings.  They did distribute cash in 2019 totaling $20,000 equally to four beneficiaries, all children of the deceased taxpayer.   I believe the distributions were from cash on hand which was a combination of the deceased taxpayers cash accounts and sale of personal assets, autos, etc. 

The Estate's personal representative and beneficiaries have agreed to have the Estate pay any taxes due for 2019, not to have income pass through to the beneficiaries via the K-1.    I believe that meets the definition of a complex trust.

The interest income is from bonds and loans held with private companies in the business of management and financial services.   I believe in the future the income will have to be distributed and at that time will be passed through to the beneficiaries.  

If my thinking is not correct I would appreciate any guidance.  

Thank you.