Holly funded the Holly Marx Trust in January 2023. The entire trust income is payable to her
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Holly funded the Holly Marx Trust in January 2023. The entire trust income is payable to her adult son Jack for 20 years. At the end of the twentieth year, the trust assets are to pass to Holly’s husband. In the current year, the trust realizes \($30,000\) of dividend income and a \($15,000\) long-term capital gain. How much income is taxed to the trust, the grantor, and the beneficiary in the current year?
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Related Book For
Pearsons Federal Taxation Corporations Partnerships Estates And Trusts 2024
ISBN: 9780138101787
37th Edition
Authors: Luke E. Richardson, Mitchell Franklin
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