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A trust has net accounting income of $19,000 and incurs a trustee's fee of $500 in its principal account. Review the following situations: a. It
A trust has net accounting income of $19,000 and incurs a trustee's fee of $500 in its principal account. Review the following situations: a. It distributes $19,000, and all of its income is from taxable sources. b. It distributes $19,000, and it has tax-exempt income (net of allocable expenses) of $2,200. c. It distributes $6,000, and all of its income is from taxable sources. Requirement What is its distribution deduction under each of the situations
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