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All trusts, except tax-exempt trusts, Select one: a. Must use the same tax year as that of its principal beneficiary. b. May adopt a calendar
All trusts, except tax-exempt trusts, Select one: a. Must use the same tax year as that of its principal beneficiary. b. May adopt a calendar year or any fiscal year. c. Must adopt a calendar year, except for existing trusts with fiscal years that ended in 1987. d. Must adopt a calendar year regardless of the year the trust was established.
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