Question
ABC Trust has taxable income before distributions for the year of $20,000 and distributable net income of $18,000. During the year it distributed $21,000 to
ABC Trust has taxable income before distributions for the year of $20,000 and distributable net income of $18,000. During the year it distributed $21,000 to its beneficiaries. What deduction will ABC be able to take for the distribution?
$ 0.
$18,000.
$20,000.
$21,000.
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Managerial Accounting
Authors: Kurt Heisinger, Joe Ben Hoyle
2nd edition
1453375723, 1453375724, 978-1453375716
