A trust has the following results: $$\begin{array} {| l | l| }
\hline \text { Net tax-exempt interest } & { \$ 10,000 } \
\hline \text { Net accounting income } & 64,000 \
\hline \text { Trustee fees charged to corpus } & 2,000 \
\hline
\end{array}$$ The Uniform Act is followed. The trust document requires one-fifth of the income to be distributed annually to David and the remainder of the income to Patty. What is distributable net income?

Question

A trust has the following results: $$\begin{array} {| l | l| } 
\hline \text { Net tax-exempt interest } & { \$ 10,000 } \
\hline \text { Net accounting income } & 64,000 \
\hline \text { Trustee fees charged to corpus } & 2,000 \
\hline
\end{array}$$ The Uniform Act is followed. The trust document requires one-fifth of the income to be distributed annually to David and the remainder of the income to Patty. What is distributable net income?

Quizplus · Accepted Answer

The Answer of A trust has the following results: $$\begin{array} {| l | l| } 
\hline \text { Net tax-exempt interest } & { \$ 10,000 } \
\hline \text { Net accounting income } & 64,000 \
\hline \text { Trustee fees charged to corpus } & 2,000 \
\hline
\end{array}$$ The Uniform Act is followed. The trust document requires one-fifth of the income to be distributed annually to David and the remainder of the income to Patty. What is distributable net income?

A Trust Has the Following Results The Uniform Act Is Followed