Shobi is a trust vehicle. The net income from the trust is $120,000 and gross dividend of
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40% to the widower
20% to a daughter and the 50% of dividend aged 49 and is working with an annual salary of $92,000
30% to a son and 50% of dividend who is an undischarged bankrupt
10% to a grandson aged 16 years old who runs a lemonade stall and makes a profit of $7,100%
Explain the consequences of the above
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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