Title: The Williams Trust was established six years ago. The trust document allows the trustee to ... Post by: Mandarini on Feb 15, 2017 The Williams Trust was established six years ago. The trust document allows the trustee to distribute income in its discretion to beneficiaries Carol and Karen for the next 15 years. The trust will then be terminated and the trust assets will be divided equally between Carol and Karen. Capital gains are part of principal.
The current year income and expenses of the trust are reported below. Amounts Allocable To Income Principal Dividends $15,000 Rental income from land 2,500 Tax-exempt interest 7,500 Rental expenses 500 Trustee's fees $600 Tax return preparation fee 250 Capital gain on stock sale (stock purchased four years ago) 6,000 Distribution of net accounting income to: Carol 7,000 Karen 3,500 Payment of estimated tax 2,620 1,680 Compute (a) distributable net income (DNI), (b) distribution deduction, (c) trust taxable income, and (d) Carol's and Karen's reportable income and its classification. Charge all of the deductible expenses against the rental income. Title: Re: The Williams Trust was established six years ago. The trust document allows the trustee to ... Post by: strwbrry on Feb 15, 2017 Content hidden
Title: Re: The Williams Trust was established six years ago. The trust document allows the trustee to ... Post by: Mandarini on Jul 15, 2017 finished my 2 tests in under 30 min thanks to you
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