A trust document does not define income or principal.The state in which the trust is operated has adopted the Uniform Act,including allocation of depreciation to income.The trust reports the following: Proceeds from stock sale What is the amount of the trust's net accounting income?

Question

A trust document does not define income or principal.The state in which the trust is operated has adopted the Uniform Act,including allocation of depreciation to income.The trust reports the following:  Proceeds from stock sale  What is the amount of the trust's net accounting income?

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The Answer of A trust document does not define income or principal.The state in which the trust is operated has adopted the Uniform Act,including allocation of depreciation to income.The trust reports the following:  Proceeds from stock sale  What is the amount of the trust's net accounting income?

A Trust Document Does Not Define Income or Principal