Donald is the trustee of a trust set up by Simpson, with Adams as beneficiary. The trust property consists almost entirely of income-producing real property--office buildings, apartment complexes, etc. By putting a "P" or an "I" in the appropriate space, indicate whether the following fund transactions should be allocated to principal (P) or to income(I).
___1. Rental income received from tenants on trust property.
___2. Capital gains realized from the sale of trust real estate.
___3. Property tax payments on trust property.
___4. Building management fees for trust property.
___5. Costs of ordinary repairs to trust property.
___6. Property insurance premiums on trust property.
___7. The cost of long-term permanent improvements to trust property.

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The Answer of Donald is the trustee of a trust set up by Simpson, with Adams as beneficiary. The trust property consists almost entirely of income-producing real property--office buildings, apartment complexes, etc. By putting a "P" or an "I" in the appropriate space, indicate whether the following fund transactions should be allocated to principal (P) or to income(I).
___1. Rental income received from tenants on trust property.
___2. Capital gains realized from the sale of trust real estate.
___3. Property tax payments on trust property.
___4. Building management fees for trust property.
___5. Costs of ordinary repairs to trust property.
___6. Property insurance premiums on trust property.
___7. The cost of long-term permanent improvements to trust property.

Donald Is the Trustee of a Trust Set Up by Simpson