A trust has the following results: 
The Uniform Act is followed.The trust document requires one-fifth of the income to be distributed annually to David and the remainder of the income to Patty.What is distributable net income?
A) $74,000
B) $72,000
C) $64,000
D) $62,000
Correct Answer:
Verified
Q2: If a state has adopted the Revised
Q6: The term "trust income" when not preceded
Q7: Beneficiaries of a trust may receive
A)an income
Q8: The executor or administrator is responsible for
Q10: A trust has net accounting income of
Q14: The conduit approach for fiduciary income tax
Q24: A trust distributes 30% of its income
Q32: A simple trust
A)may make charitable distributions.
B)may make
Q39: Identify which of the following statements is
Q94: Income in respect of a decedent (IRD)includes
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