April 15, 2024.\ Estate and Trust Income Tax\ Question 55 of 75.\ Which of the following statements is TRUE about a simple trust?\ All income must be distributed currently.\ All principal must be distributed by the end of the taxable year.\ Charitable contributions are permitted only if the total amount is less than

10%

of gross income.\ Gain from the sale of a capital asset must be included in trust accounting income.\ Question 56 of 75.\ In general, when is income in respect of a decedent (IRD) taxed?

Question 55 of 75. Which of the following statements is TRUE about a simple trust? All income must be distributed currently. All principal must be distributed by the end of the taxable year. Charitable contributions are permitted only if the total amount is less than 10% of gross income. Gain from the sale of a capital asset must be included in trust accounting income. Question 56 of 75. In general, when is income in respect of a decedent (IRD) taxed