A trust is required to distribute all of its income annually. It distributes all of the income and $2,000 of principal to the beneficiary. Which of the following statements is correct?
A) The trust is a complex trust and is allowed a $100 exemption.
B) The trust is a simple trust and is allowed a $100 exemption.
C) The trust is a simple trust and is allowed a $300 exemption.
D) The trust is a complex trust and is allowed a $300 exemption.
Correct Answer:
Verified
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