A trust reports the following results:
$\begin{array}{lrr}
& \text { Income } & \text { Principal } \
\text { Taxable bond interest } & \$ 20,000 & \
\text { Rental income } & 10,000 & \
\text { Gain on sale of investment land } & & 10,000 \
\text { Property taxes } & 2,000 & \
\text { Tristep fees } & & 500
\end{array}$
The trust must distribute all of its income annually. Calculate taxable income after the distribution deduction.

Question

A trust reports the following results:
 $\begin{array}{lrr} 
& \text { Income } & \text { Principal } \
\text { Taxable bond interest } & \$ 20,000 & \
\text { Rental income } & 10,000 & \
\text { Gain on sale of investment land } & & 10,000 \
\text { Property taxes } & 2,000 & \
\text { Tristep fees } & & 500
\end{array}$
 The trust must distribute all of its income annually. Calculate taxable income after the distribution deduction.

Quizplus · Accepted Answer

The Answer of A trust reports the following results:
 $\begin{array}{lrr} 
& \text { Income } & \text { Principal } \
\text { Taxable bond interest } & \$ 20,000 & \
\text { Rental income } & 10,000 & \
\text { Gain on sale of investment land } & & 10,000 \
\text { Property taxes } & 2,000 & \
\text { Tristep fees } & & 500
\end{array}$
 The trust must distribute all of its income annually. Calculate taxable income after the distribution deduction.

A Trust Reports the Following Results The Trust Must Distribute All of Its Income Annually