Dividends $20,000 Long-term capital gain 15,000 Trustee’s fees 1,500 Distribution to beneficiary 20,000 A simple trust has the following receipts and expenditures for the year. The trust instrument classifies gains, losses, and trustee’s fees part of the principal.
Dividends $20,000 Long-term capital gain 15,000 Trustee’s fees 1,500 Distribution to beneficiary 20,000 A simple trust has the following receipts and expenditures for the year. The trust instrument classifies gains, losses, and trustee’s fees part of the principal.
Chapter28: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 26P
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Dividends |
$20,000 |
Long-term |
15,000 |
Trustee’s fees |
1,500 |
Distribution to beneficiary |
20,000 |
- A simple trust has the following receipts and expenditures for the year. The trust instrument classifies gains, losses, and trustee’s fees part of the principal.
What is the trust’s taxable income?
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