The Crown Trust distributed one-half of its accounting income to Lee this year. Lee also is allocated one-half of
Crown's credit for building low-income housing.

Question

Quizplus · Accepted Answer

The distribution of accounting income and allocation of tax credits, such as those for building low-income housing, are separate considerations. The statement does not present any inherent contradictions or impossibilities regarding trust distributions or tax credit allocations.

The Crown Trust Distributed One-Half of Its Accounting Income to Lee