Like a corporation, the fiduciary reports and pays its own Federal income tax liability.

Name: Like a corporation, the fiduciary reports and pays its own Federal income tax liability.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A fiduciary is a person or organization that manages assets on behalf of another person or organization. Fiduciaries are required to file their own tax returns and pay their own taxes on the income they earn from managing the assets.

Like a Corporation, the Fiduciary Reports and Pays Its Own