fiduciary return in State of trust or State of beneficiary?

Technical topics regarding tax preparation.
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My client has an irrevocable trust that was formed in CA. The only income in the trust are on investments in a Schwab account, and no distributions to the beneficiary were made, so the trust pays the tax.

The beneficiary is a resident of NY. Does the trust need to file a NY tax return? Does it report the income and pay the tax in the State where it was formed? Or in the State where the beneficiary resides?

When preparing a CA return for the trust, if I indicate that the fiduciary/beneficiary (same person) is a NY resident, then my software automatically reports no income to CA. Is this right?
 

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