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

Question

A trust reports the following results:
 $\begin{array} { l  }&&\text { Allocable to }\
&\text { Income }&\text { Principal }\
 \text { Taxable bond interest}&\$ 20,000\
 \text {Rental income }&10,000\
 \text { Gain on sale of investment land}&&10,000\
 \text {Property taxes }&2,000\
 \text { trustee fees}&&500\
\end{array}$
 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:
 $\begin{array} { l  }&&\text { Allocable to }\
&\text { Income }&\text { Principal }\
 \text { Taxable bond interest}&\$ 20,000\
 \text {Rental income }&10,000\
 \text { Gain on sale of investment land}&&10,000\
 \text {Property taxes }&2,000\
 \text { trustee fees}&&500\
\end{array}$
 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