10. Income earned by the trust is... A Taxed first by the trust and then again when it is distributed to the beneficiaries B Taxed in the trust unless it is allocated in the year it is earned to the beneficiaries. Not taxed in the trust but taxed to the beneclaries in the year the income is allocated to them by the trust D Taxed to the beneficiaries when it is distributed to them by the trust. E none of the above