Which of the following statements is true about the taxation of trusts? A. The basis of property
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Question:
Which of the following statements is true about the taxation of trusts?
A. The basis of property donated to a trust is fair market value at date of gift.
B. Distributed income is subject to double taxation.
C. The income that is passed through to a beneficiary has the same tax attributes in the hands of the beneficiary as when it is received by the trust.
D. The trust's income is taxed at a flat rate.
Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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