Which of the following statements is not a characteristic of a complex trust?
A) A complex trust may have both "first-tier" and "second-tier" beneficiaries.
B) A complex trust may not make any charitable contributions during the year.
C) A complex trust that is not required to distribute all income currently may only claim a $100 personal exemption.
D) A complex trust may make distributions of both trust income and corpus.
Correct Answer:
Verified
Q36: In the calculation of the distributable net
Q37: The amount of personal exemption available to
Q38: The amount of personal exemption available to
Q39: For the current year, Trust J
Q40: Fiduciary accounting income is
A)Determined by reference to
Q41: A complex trust has $70,000 in DNI
Q43: When allocating DNI among beneficiaries who have
Q44: A fiduciary is instructed by a trust
Q45: In the current taxable year, Trust XYZ
Q46: During the current year, Trust S had
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