Question: the current year, Mead Trust, a complex trust, distributed an asset with a $ 50 comma 000 adjusted basis and a $ 76 comma 000

the current year, Mead Trust, a complex trust, distributed an asset with a $ 50 comma 000 adjusted basis and a $ 76 comma 000 FMV to its sole beneficiary, Misty Mead-Mendez. The trustee elected to recognize gain on the distribution. Misty received no other distributions from the trust during the year. The distributable net income for the year was $ 97 comma 000, and none of it was from tax-exempt sources. Read the requirements.LOADING

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