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?

Question

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?

Quizplus · Accepted Answer

D) $62,000 net accounting income (which includes the tax-exempt interest), minus $2,000 trustee fee charged to corpus.

A Trust Has the Following Results: the Uniform Act