8. Panther Trust has net accounting income and distributable net income of $100,000, $75,000 from taxable sources

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8. Panther Trust has net accounting income and distributable net income of $100,000, $75,000 from taxable sources and $25,000 from tax-exempt sources. During the year the trust makes a mandatory distribution to Julius and Steve of $50,000 each. How much of Steves distribution is taxable? a. $12,500 b. $25,000 c. $37,500 d. $50,000

Posted Date: Jun 16, 2024 03:25 PM

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8. Panther Trust has net accounting income and distributable net income of $100,000, $75,000 from taxable sources

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