The trustee of the Astro trust makes a $15,000 charitable contribution to Penn Ohio University. The trust

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The trustee of the Astro trust makes a $15,000 charitable contribution to Penn Ohio University. The trust agreement is silent as to the specific type of income that should be used to pay the contribution. The trust had $15,000 of taxable income and $10,000 of tax-exempt income during the year.

How much of the $15,000 charitable contribution is deductible on the trust’s federal income tax return?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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