A real property was transferred to a revocable trust with Carding as the beneficiary. The property earned a total of 900,000 gross rentals during the taxable period. The expenses attributable to the maintenance of the same property amounted to P200,000. During the period, 250,000 of the total rentals was distributed to the beneficiary. How much is the allowable special deduction for income distribution to the beneficiary?    a. Zero b. 200,000 c. 250,000 d. 300,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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A real property was transferred to a revocable trust with Carding as the beneficiary. The property earned a total of 900,000 gross rentals during the taxable period. The expenses attributable to the maintenance of the same property amounted to P200,000. During the period, 250,000 of the total rentals was distributed to the beneficiary. How much is the allowable special deduction for income distribution to the beneficiary? 

 

a. Zero

b. 200,000

c. 250,000

d. 300,000

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