Aime Lou is the beneficiary of an inter vivos trust. During Year 1 the trust received the
Fantastic news! We've Found the answer you've been seeking!
Question:
Aime Lou is the beneficiary of an inter vivos trust. During Year 1 the trust received the following income: Capital gains: $10,000, Interest: $8,000, and Non-eligible dividends: $5,000. One half of the trust's income from Year 1 was paid to Aime and the remainder of the income remained in the trust. What is the federal tax for the trust in Year 1? (Round your intermediate calculations to the nearest whole dollar.)
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date: