Accounting Question

1. In 2001, Larry creates a trust with Ted as trustee. Ted (as trustee) must distribute all income to Jeff and Susie equally. Additionally, distributions of principal may be made to Jeff, Susie, and Leon at Ted's discretion. In 2012, the trust has $10,000 of interest and $10,000 of dividends. Additionally, the trust received $100,000 for the sale of an asset with a basis of $90,000. In 2012, $20,000 is distributed to Jeff, $30,000 is distributed to Susie and $40,000 is distributed to Leon. How much income does each of Jeff, Susie, Leon and the trust report and why?
2. In 2012, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon to provide for their health, education, maintenance and support at his discretion. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. In 2012, $15,000 is distributed to Susie, $10,000 is distributed to Jeff and $5000 is distributed to Leon. How much income does each of Jeff, Susie, Leon and the trust report for 2012 and why?
3. In 2012, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon to provide for their health, education, maintenance and support at his discretion. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. In 2012, $20,000 is distributed to Susie, $20,000 is distributed to Jeff and nothing is distributed to Leon. How much income does each of Jeff, Susie, Leon and the trust report for 2012 and why?
4. In 2012, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon to provide for their health, education, maintenance and support at his discretion. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. In 2012, $100,000 is distribute to Susie, $200,000 is distributed to Jeff and nothing is distributed to Leon. How much income does each of Jeff, Susie, Leon and the trust report for 2012 and why?
5. In 2012, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon to provide for their health, education maintenance and support at his discretion. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. In 2012, $5000 is distributed to each of Jeff, Susie and Leon (for a total of $15,000 distributions). How much income does each of Jeff, Susie, Leon and the trust report for 2012 and why?
6. In 2012, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon to provide for their health, education, maintenance and support at his discretion. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. No distributions are made in 2012. On January 15, 2013, $30,000 is distributed to Jeff. Ted is concerned that none of the 2012 income has been passed out to beneficiaries. Ted comes for you for advice. Is there a way for the trust to obtain a distribution deduction on its 2012 return for the $30,000 distribution to Jeff made to 2013? If so, how would that affect Jeff's tax reporting?
7. In 2001, Larry creates a trust with Ted as trustee. Ted (as trustee) may distribute income and principal to Susie, Jeff and Leon at his discretion to provide for their health, education, maintenance, and support. Upon Larry's death, the trust terminates and the remainder is distributed to Susie, Jeff and Leon in equal shares. In 2012, Larry dies. In 2012, the trust has $15,000 of interest and $15,000 of dividends. Additionally, the trust received $115,000 for the sale of an asset with a basis of $100,000. How much income does each of Jeff, Susie, Leon and the trust report for 2012 and why?