Which of the following is the annual maximum amount to be included as gross income by all of the income beneficiaries of the trust or estate?

Question

Quizplus · Accepted Answer

The annual maximum amount to be included as gross income by all of the income beneficiaries of the trust or estate is the distributable net income, which represents the amount of income that is required to be distributed to beneficiaries. Entity taxable income and fiduciary accounting income are used for determining the tax liability of the trust or estate, while adjusted gross income is used for individual income tax purposes.

Which of the Following Is the Annual Maximum Amount to Be