Question: I need help preparing form 1041 and other additional forms that go with this problem Dr. Frank Floorberg settled the Frank Floorburg Irrevocable Childrens Trust

I need help preparing form 1041 and other additional forms that go with this problem

Dr. Frank Floorberg settled the Frank Floorburg Irrevocable Childrens Trust on March 1, 2009 (EIN: 33-898989). In 2017, the Trust had items of income and expense as follows:

Amount Allocable to

Income Principal

Qualified Dividends $20,000

Ordinary Dividends 11,000

Rental income from house 15,500

Tax-exempt interest 18,000

Rental expenses[1] 4,500

Trustees fee 600 $ 600

Fee for preparation of tax return 500

Capital gain on sale of Intel stock[2] 15,000

The trust agreement appointed Enron Bank and Trust as its trustee. The Trustee must distribute 1/3 of the income to Donny and 2/3 of the income to Markie during its 20-year term. On March 1, 2029, the Trust will terminate and the assets will be distributed equally to Donny and Markie, irrespective of any distributions the beneficiaries received during the life of the Trust (i.e. separate shares are not maintained for Donny and Markie). The Trust provides that capital gains are to be treated as principal by the Trustee.

Enron Bank and Trust Donnie Floorberg Markie Ceilingburg

1234 Money Lane 456 Avenue Q 1515 B-Street, Apt. 222

Wahoo, MI 48007 Lava, MI 48008 Liva, MI 48009

EIN: 33-989898 SS: 444-99-5555 SS: 444-98-6666

[1]The residential rental property is located at: 15939 New Hampshire Avenue, Austin, Michigan 48333. The expenses include: $1,250 commission paid to a real estate management company for management services, $2,000 for depreciation of the property, $1,250 for maintenance expenses.

[2]Trustee sold the stock on June 23, 2017. The stock was purchased for $8,000 on June 23, 2010. Assume no transaction fees or other expenses relating to the purchase or sale of the stock.

I need help preparing form 1041 and other additional forms that go with this problem.

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