Outline the classification of principal and income under the Revised Uniform Principal and Income Act.
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Income: rent, interest, ...
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Q22: A trust document does not mention the
Q23: Charitable contributions made by a fiduciary
A)are limited
Q24: A trust distributes 30% of its income
Q25: A trust receives no standard deduction when
Q26: A trust is required to distribute 10%
Q28: Little Trust, whose trust instrument is silent
Q29: Estates and trusts
A)are taxed on state and
Q30: Yellow Trust must distribute 33% of its
Q31: List some common examples of principal and
Q32: A simple trust
A)may make charitable distributions.
B)may make
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