A Trust had the following items of income & expense:

Taxable interest income 40,000

Nontaxable interest income 60,000

Fiduciary Fees (12,000)*

LTCG 15,000 *

Rental income 50,000

Rental expenses (o/t depr) (30,000)

Depreciation expense (15,000)*

* allocable to corpus by trust agreement.

The trust agreement requires that at least half of accounting income be distributed to the 3 equal beneficiaries each year. This year, the trustee made distributions that equaled 60% of fiduciary accounting income.

Question	Selected Match
Determine Fiduciary Accounting Income.
Determine the Fiduciary Fees deduction allowed on form 1041.
Given that depreciation is not charged against income, it is reasonable to infer that there is no reserve for depreciation. With this in mind, determine the amount of depreciation deducted on the fiduciary's form 1041.
Determine fiduciary taxable income before the distribution deduction. As the name suggests, this figure includes all gross income and all deductions allowed, except for the distribution deduction..
Determine Distributable Net Income (DNI).
Each of 3 equal beneficiaries received a $24,000 distribution--his or her share of a total distribution that equaled 60% of fiduciary accounting income. Let us stipulate that the deductible portion of fiduciary fees was charged against taxable interest income and the non-deductible portion of fiduciary fees was, of course, charged against non-taxable interest income. How much taxable interest income is included in this $24,000 distribution?
Each of 3 equal beneficiaries received a $24,000 distribution--his or her share of a total distribution that equaled 60% of fiduciary accounting income. Let us stipulate that the deductible portion of fiduciary fees was charged against taxable interest income and the non-deductible portion of fiduciary fees was, of course, charged against non-taxable interest income. How much non-taxable interest income is included in this $24,000 distribution?
Each of 3 equal beneficiaries received a $24,000 distribution--his or her share of a total distribution that equaled 60% of fiduciary accounting income. Let us stipulate that the deductible portion of fiduciary fees was charged against taxable interest income and the non-deductible portion of fiduciary fees was, of course, charged against non-taxable interest income. How much rental income is included in this $24,000 distribution?
Is there any other tax information that needs to be communicated to the beneficiaries on schedule K-1?