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?

Quizplus · Accepted Answer

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