During the current year, a trust had the following income (losses):
Capital gains ……………………… $ 20,000
Capital losses……………………… (50,000)
Business loss……………………… (40,000)
………………………………………………$(70,000)
Beverley, the sole beneficiary of the trust has income from other sources that puts her in the top tax bracket. Determine the appropriate allocation of income from the trust. Income Tax Act reference: ITA 104(21).