Sketchy Trust has taxable income of $50,000. The trust had $5,000 in interest income on tax-exempt municipal
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Sketchy Trust has taxable income of $50,000. The trust had $5,000 in interest income on tax-exempt municipal bonds, and a capital gain of $3,000. Per the trust agreement, all capital gains are allocated to corpus. What is Sketchy's distribution deduction?
Related Book For
Taxation for Decision Makers 2017
ISBN: 9781119373735
7th edition
Authors: Shirley Dennis-Escoffier, Karen Fortin
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