Question
Aime Lou is the beneficiary of an inter vivos trust. During Year 1 the trust received the following income: Capital gains: $10,000, Interest: $8,000, and
Aime Lou is the beneficiary of an inter vivos trust. During Year 1 the trust received the following income: Capital gains: $10,000, Interest: $8,000, and Non-eligible dividends: $5,000. One half of the trust's income from Year 1 was paid to Aime and the remainder of the income remained in the trust. What is the federal tax for the trust in Year 1? (Round your intermediate calculations to the nearest whole dollar.)
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Canadian Income Taxation Planning And Decision Making
Authors: Joan Kitunen, William Buckwold
17th Edition 2014-2015 Version
1259094332, 978-1259094330
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