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9. Which of the following statements is TRUE regarding trusts? A Losses that exceed income in a trust are allocated to the beneficiary at the

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9. Which of the following statements is TRUE regarding trusts? A Losses that exceed income in a trust are allocated to the beneficiary at the end of the year. B The residence of a trust is determined by the residence of the trustees. C The allocation of income from a trust is discretionary. D Income that is payable to a beneficiary cannot be deducted from the trust's income E none of the above

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