A simple trust has ordinary income of $56,000, a long-term capital gain of $20,000 (allocable to corpus),
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A simple trust has ordinary income of $56,000, a long-term capital gain of $20,000 (allocable to corpus), and a trustee commission expense of $5,500 (payable from corpus). The two income beneficiaries, Woo and Jae, are entitled to the trust's annual accounting income, based on shares of 60% and 40%, respectively. Woo is allocated DNI of $________ and Jae is allocated DNI of $._________
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: