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Title: The Tucker Trust was established six years ago. The trust is required to distribute all of the trust ... Post by: safezone on Feb 15, 2017 The Tucker Trust was established six years ago. The trust is required to distribute all of the trust income at least annually to Betty for life. Capital gains are credited to principal. The current year results of the trust are as follows:
Amounts Allocable To Income Principal Dividends $15,000 Rental income from land 2,500 Tax-exempt interest 7,500 Rental expenses 500 Trustee fees $600 Tax return preparation fee 250 Capital gain on stock sale (stock purchased five years ago) 24,250 6,000 Distribution of net accounting income 1,300 Payment of estimated taxes Compute (a) distributable net income (DNI), (b) the distribution deduction, (c) trust taxable income, and (d) Betty's reportable income and its classification. Charge all of the deductible expenses against rent income. Title: Re: The Tucker Trust was established six years ago. The trust is required to distribute all of the ... Post by: strwbrry on Feb 15, 2017 Content hidden
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