In reference to accounting for trusts or estates,which of the following statements is correct?
A) Estates are subject to taxation,but trusts are not.
B) Estates are subject to probate laws that vary widely across the fifty states.
C) Estates are subject to income taxes at the federal level,but not at the state level.
D) Estates and trusts are taxed regardless of size.
Correct Answer:
Verified
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