The Kapoor Trust Is Your Client ?
Trust Agreement Provisions
Trust Accounting Income
Fees and Capital

The Kapoor Trust is your client. Complete the chart below, indicating Kapoor's trust accounting income for each of the alternatives. $$\begin{array} { l r } \text { Interest income, taxable } & \$ 60,000 \\\text { Interest income, tax-exempt } & 30,000 \\\text { Interest income, tax-exempt but AMT preference } & 10,000 \\\text { Long-term capital gain } & 40,000 \\\text { Trustee fee } & 5,000\end{array}$$ ?
Trust agreement provisions
Trust accounting income
Fees and capital gains allocable to corpus
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Capital gains allocable to corpus, one-half of fees allocable to income
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Capital gains allocable to income, silent concerning allocation of fees
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Fees and exempt income allocable to corpus, silent concerning allocation of capital gain/loss
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