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Mandarini Mandarini
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7 years ago
A trust is required to distribute 10% of its income to Eleanor. In addition, the trustee in his discretion may distribute income to Eleanor and/or Marshall. The trust has net accounting income of $50,000, none of which is tax-exempt. The trust distributes the $5,000 mandatory payment to Eleanor and also distributes discretionary amounts of $5,000 to Eleanor and $5,000 to Marshall. How much must Eleanor include in income?
A) $5,000
B) $10,000
C) $50,000
D) none of the above
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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strwbrrystrwbrry
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7 years ago
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Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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Mandarini Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
aznzergs
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Yesterday
Correct Slight Smile TY
sweetalia
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2 hours ago
Smart ... Thanks!
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