A trust document does not define income or principal. The state in which the trust is operated has adopted the U Act, including allocation of depreciation to income. The trust reports the following: $\begin{array}{lr}
\text { Net business profits } & \$ 20,000 \
\text { Net rental income } & 5,000 \
\text { Proceeds from stock sale } &\
\text { (including } \$ 10,000 \text { gain) } & 50,000 \
\text { Trustee fee (charged to income) } & 2,000 \
\text { Depreciation } & 3,000
\end{array}$ 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 U Act, including allocation of depreciation to income. The trust reports the following: $\begin{array}{lr}
\text { Net business profits } & \$ 20,000 \
\text { Net rental income } & 5,000 \
\text { Proceeds from stock sale } &\
\text { (including } \$ 10,000 \text { gain) } & 50,000 \
\text { Trustee fee (charged to income) } & 2,000 \
\text { Depreciation } & 3,000
\end{array}$ What is the amount of the trust's net accounting income?

A Trust Document Does Not Define Income or Principal What Is the Amount of the Trust's Net Accounting Income