The Chen Trust is required to distribute its accounting income every year, one-half to Missy Chen, and one-half to the local church's homeless shelter. What is the Chen Trust's personal exemption?

Name: The Chen Trust is required to distribute its accounting income every year, one-half to Missy Chen, and one-half to the local church's homeless shelter. What is the Chen Trust's personal exemption?
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Question

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A trust is allowed a $300 personal exemption when it is required to distribute all its income annually.

The Chen Trust Is Required to Distribute Its Accounting Income