A complex trust (not required to distribute any income) generated a long- term capital loss of $100,000 in 2012. It had taxable income of $100,000 from domestic dividends in 2012. What is the tax treatment of the capital loss to the trust?
A) Deduction of $3,000 and carryover of $97,000
B) Deduction of $100,000
C) Deduction of $6,000 and carryover of $94,000
D) Deduction of $3,000 and no carryover
Correct Answer:
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